Iran: Nuclear Deal

Mark Hendrick Excerpts

Wednesday 15th July 2015 Commons Chamber

[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.

[Mr Mark Hendrick (Preston) (Lab/Co-op)]

How confident is the Foreign Secretary that Iran will comply with the terms of the deal, that it will in future become a constructive international partner and that it might even become a partner in the battle against ISIL?

[Mr Hammond]

The hon. Gentleman has asked three separate questions. How confident am I that Iran will comply? I believe that I am highly confident that it will comply with its specific obligations under the deal. How likely is it that Iran will become a partner in the battle against ISIL? I believe that it is likely, because Iran shares our view that ISIL is an existential threat. How we collaborate will have to be managed very carefully, because of the legacy of mistrust and the challenges of co-operation, but we are strategically aligned in relation to ISIL.

How confident am I that Iran’s behaviour in the region will change? That is a bigger question. I think that it is a potential prize, but we have not yet gained it. We have to build trust, and we have to show Iran, by our actions and not just by our words, that collaborating and acting reasonably works for both sides and provides benefits for both sides.