Iran: Nuclear Deal
Debate between Lord Hammond of Runnymede and David Jones(9 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr David Jones (Clwyd West) (Con)
My right hon. Friend rightly highlighted the activities of the Iranian revolutionary guard corps as an example of Iran’s current meddling beyond its borders. Given the large amount of resources that will be released to Iran as a consequence of the agreement, will my right hon. Friend tell us what assurances he and his fellow negotiators have received from the Iranians that those resources will not be directed towards further funding for the IRGC’s export of the Iranian revolution?
Mr Hammond
As I think I have made clear before, we have no specific commitments. Iran will have access, over time, to about £90 billion-worth of frozen assets. That will not happen overnight; it will happen over a period of many years. No doubt, the IRGC will have ideas about recommending how some of the money could be spent, but so will people in many other parts of the Iranian system. Iran has a huge infrastructure deficit. If it is to increase its oil-exporting capacity, which it will want to do, it will need to invest very heavily in the oil industry, and we would expect a fair amount of the unfrozen funds to go into that sector.