Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Iranians Vote for a New President as Nuclear Deal in the Balance

GlobalJun 18, 2021 07:21
Saved. See Saved Items.
This article has already been saved in your Saved Items
2/2 © Bloomberg. Hassan Rouhani 2/2

(Bloomberg) -- Iranians vote Friday in a presidential election expected to see a hardline conservative replace the more moderate Hassan Rouhani, complicating efforts to restore a landmark nuclear accord that has major implications for Middle East security and oil markets.

Polling stations open at 7 a.m. local time after a three-week campaign beset by controversy after authorities barred the most popular reformist politicians, who back greater engagement with the U.S. and Europe, and some high-profile conservatives from standing.

​The narrow field approved by the Guardian Council is expected to depress turnout to a record low and all but ensure the election of 60-year-old Ebrahim Raisi, an austere cleric and judiciary chief who’s also seen as the favorite to one day succeed Supreme Leader Ayatollah Ali Khamenei. In his campaign, Raisi supported the nuclear-deal diplomacy but downplayed the accord as a “marginal matter.”

The cleric was sanctioned in 2019 by the Trump administration, which cited his role in a deadly crackdown a decade earlier on protesters alleging vote fraud. Human-rights groups say he was a presiding judge in mass executions of political prisoners in 1988, something he has never publicly addressed.

​On Thursday, Khamenei urged Iranians to vote in large numbers to ensure the next president receives a “powerful and strong” mandate.

“Our problems will only be solved if the people go to the ballot box and vote for someone who can fix these problems,” he said. “I accept that people have grievances, but I don’t accept that these grievances are a reason not to vote.”

The only reformist contender is Abdolnaser Hemmati, who stepped aside as governor of the Central Bank of Iran in order to run, but he doesn’t have a major political following. Still, if the moderate camp is successful in encouraging more of its supporters to vote, Raisi could be forced into a runoff if he fails to secure 50% of ballots.

Rouhani’s plans to use foreign investment to overhaul the country’s infrastructure and restore its position as a major oil exporter within OPEC were shattered by the unraveling of the nuclear agreement, further dispiriting a middle class that had propelled him to two terms.

What’s at Stake in Iran’s Presidential Election: QuickTake

Rouhani remains in office until August, giving his negotiators a few more weeks to revive the 2015 agreement with world powers that lifted sanctions on Iran’s economy and curtailed its atomic program until then-President Donald Trump withdrew the U.S. three years later.

Washington’s exit from the nuclear pact empowered ultraconservatives who were always heavily critical of the nuclear accord and won control of parliament last year. The American withdrawal sent tensions soaring in the Persian Gulf, fueling regional conflicts and prompting Tehran to enrich uranium close to the level needed for a bomb.

The Biden administration came to office seeking to rejoin the nuclear accord and diplomats representing world powers have been camped in Vienna for weeks in search of a deal. Oil markets are closely watching developments of signs of when expanded Iranian crude exports are likely to resume.

Raisi has vowed to prioritize trade with Iran’s neighbors rather than the U.S. and Europe, backed by supportive partners such as China and Russia.

As with previous hardline-led governments keen to bolster support among a pious, working-class base, he has hinted at a populist agenda, promising to build 1 million affordable homes, increase taxes on the wealthy, and improve cash handouts for the poor.

©2021 Bloomberg L.P.

Iranians Vote for a New President as Nuclear Deal in the Balance

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Our Apps
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
  • Sign up for FREE and get:
  • Real-Time Alerts
  • Advanced Portfolio Features
  • Personalized Charts
  • Fully-Synced App
Continue with Google
Sign up with Email