Europe and China race ahead in business deals with Iran

London

EUROPEAN companies are racing ahead of their US counterparts in forging post-sanctions deals with Iran, and China and Russia are following suit.

In terms of the anti-nuclear deal, American foreign subsidiaries can arrange business deals on expectations that the Iranian economy, backed by its population of 80 million, will recover sharply in the coming years.

However, many US companies are wary of Iran's poor human-rights record, its support of Hezbollah and the Hamas terrorist groups in the Middle East, and its enmity with Saudi Arabia and Israel; there are also concern…