Code: 81988582 (5211190) | Date: 03/03/2016 | Time: 13:07|
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Sanctions keeping US from investing in Iran: CNBC

Tehran, March 3, IRNA - European and Asian investments are moving fast into Iran, leaving the US in the dust as some sanctions continue to keep the American money out despite keen interest, an investor said Thursday.

Broad western sanctions against Iran were lifted in January this year after the government agreed to limit its nuclear program, spurring investment into the country with Airbus announcing a large $25 billion order of 118 airplanes while automaker Peugeot returned to the country with a 400 million euro ($435 million) deal the CNBC reported.
Japan and Singapore have also signed bilateral trade deals with Iran recently.
The US however is 'nowhere in terms of trade' due to the remaining anti-Iranian sanctions, David Grayson, chief executive of New York-based brokerage Auerbach Grayson told the CNBC's 'The Rundown' on Thursday.
'Basically, the Iranians can sell carpets, rugs and caviar to the US but beyond that, the US is being left at the station and the train is pulling out,' Grayson said.
Grayson also said he has received interest from American clients to invest in the Tehran Stock Exchange
But sanctions aside, there is no recognized custodial service to hold securities on behalf of international investors yet.
Iran offers potential to investors despite recent economic wobbles and a far from clement political backdrop in the region.
The country has a population of 80 million with a median age of approximately 29 years and a tertiary education enrollment rate that is higher than many developing economies.
The exchange has a market capitalization of $100 billion and processes $100 million worth of trades daily, according to Grayson, who visited Iran as a tourist last May.
Gains by reformist candidates in last weekend's Iranian elections may pave the way for changes to economic policies that will boost foreign investment and trade with the West, but there will still likely not be action from the world's largest economy for months until the new president takes office after the election in November, said Grayson.

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