The Political Economy of U.S.–Iranian Relations (2005–2014)

In: Kamel , A M 2015 , ' The Political Economy of U.S.–Iranian Relations (2005–2014) ' , Journal of the Middle East and Africa , vol. 6 , no. 3-4 , pp. 235-251 . https://doi.org/10.1080/21520844.2015.1086967

Abstract

From 2005 up until the end of the Joint Plan of Action's first phase in July 2014, the United States sought to exploit Iran's economically interdependent foreign ties in order to eradicate the perceived Iranian nuclear threat. This article analyzes the developments that took place in this time frame to assess and establish the effectiveness of this economic policy to achieve its security aim. By positing the argument in the context of the economic interdependence–security literature, this article contributes to the debate and policy discussions concerned with this political economy approach, and highlights the importance of economic and political interests when considering this relationship. By using the U.S.–Iran case study, this article emphasizes that unilateral actions to economically isolate a state are becoming increasingly impotent. Therefore, for such an economic isolation policy to work, it must be adopted on a multilateral if not universal level. Only then can the economic incentive for the targeted state be used to induce the desired security aims. This article also provides a commentary on how its conclusions match up to the 2015 Joint Comprehensive Plan of Action.