"Lausanne Understanding will Boost Iran-Italy Ties"
Max Civili
Press TV, Rome
The mutual understanding over outstanding issues over Tehran's nuclear energy program reached by Iran and P5+1 on Wednesday has been greeted with broad support across Italy. The Italian Prime Minister Matteo Renzi has hailed the Lausanne understanding as a historic achievement. Renzi pledged that Italy will make its contribution so that all terms of the understanding are implemented.
Lifting the sanctions imposed on Iran may have positive ramifications also for Italy. Rome and Tehran had a trade volume of over six billion euros back in 2007. Economic exchanges between the two countries has since dramatically dropped because of the sanctions, however.
Much of Rome’s trade with Teheran came from investments made by Italian energy companies in Iran’s oil and gas reserves. For decades Italian firms have also been deeply involved in Iran's infrastructure, textile and ceramic tiles sectors.
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