Unpacking the 2015 Iran nuclear deal (JCPOA): Internationalisation of capital, imperial rivalry and cooperation, and regional power agency

Abstract

The existing accounts of the Iranian nuclear programme and the JCPOA suffer from ontological exteriority, in conjunction with the problematic conception of the state and unpersuasive assessments of future outcomes. Grounded on the philosophy of internal relations, which challenges the artificial detachment between political economy and military-security concerns, this article contends that grasping the Iranian nuclear programme and the JCPOA requires unpacking their internal links with neoliberal global capitalism. The article thus presents a three-part argument. First, it asserts that the Iranian nuclear programme and economic sanctions should be viewed as part of the great powers’ efforts, particularly those of the United States and the European Union, to shape neoliberalism in the Middle East and North Africa. Second, it delves into the post-2008 global economy’s imperial rivalry and cooperation, suggesting that the nuclear deal was a result of the US pivot to the East, China’s Belt and Road Initiative in West Asia, and the need for multinational companies to find new avenues for capital accumulation following the financial crisis. Finally, it connects the JCPOA to Iranian neoliberalisation, which gives rise to two competing capital fractions (the internationally oriented capital fraction and the military–bonyad complex) to emphasise the crucial role played by the former in reaching the nuclear deal.