With the Democratic candidate, former Vice President Joe Biden emerging victorious following the election 2020 results in the US, there are expectations of several shifts in global politics in the upcoming months. Perhaps the only nation observing the outcome of US Presidential elections more closely than the American people themselves, was Iran. This is not surprising as the Islamic Republic has been under stringent economic sanctions during the tenure of President Trump subduing any economic growth and leaving the Iranian economy in tatters.
According to a World Bank Report on Iran’s economic outlook, the country has been facing the third consecutive year of recession with its GDP contracting by 6.8% in 2019-20. Apart from economic damages, Iran has also suffered from international isolation through restrictions on its oil imports and faced an aggressive US strategic policy approach in the region under the Trump administration. Will Biden’s presidency turn out to be any different?