Nuclear Stakes

Iran invites U.S. investment in its atomic sector, challenging decades of hostility and raising questions about diplomacy, sanctions and the regional balance of power

- TOM O'CONNOR

WITH THE UNITED STATES AND IRAN HAVING held five rounds of talks on potentially striking a new nuclear agreement, one key incentive being touted by Tehran is the prospect of opening the Islamic Republic to large-scale investment.

Iranian Foreign Minister Abbas Araghchi, who represents his nation at the negotiating table, has discussed how “tens of billions of dollars in potential contracts are up for grabs” in Iran’s nuclear sector. He described it as a market “big enough to revitalize the struggling nuclear industry in the United States.”

This proposal comes at a time when the Trump administration is pursuing a so-called “nuclear renaissance” aimed at reinvigorating U.S. nuclear energy. But given the uncertainty surrounding whether the White House would allow Iran to pursue any level of uranium enrichment, the question persists: Could U.S. companies feasibly bring their business to the long-sanctioned Islamic Republic?

“The answer is yes,” Frank Rose, who served as deputy head of the U.S. National Nuclear Security Administration under former President Joe Biden, told Newsweek. Yet he acknowledged that such a breakthrough would require a creative approach to overcome decades of deep-seated mistrust and hostility between the two nations.

A Grand Nuclear Bargain

Ironically, the U.S. played an often-overlooked role in supporting the foundation for what would become Iran’s nuclear program. Months after the 1953 CIA-backed coup that brought Iran’s pro-Western shah back to power, President Dwight D. Eisenhower paved the way for the “Atoms for Peace” initiative that later saw Washington provide Tehran with nuclear technology and training.