Germany acknowledges Iran’s key role in stabilizing Middle East

PanARMENIAN.Net - German Foreign Minister Frank-Walter Steinmeier said on Tuesday, January 19 that tensions between Iran and Saudi Arabia would not disappear soon but it was possible to help build trust between the two rivals who compete for influence in the Middle East, Channel News Asia reports.

"In a first step, a lot would be achieved if both sides brought the current situation under control, talked to each other," he said, adding that Iran was key to stabilizing the Middle East.

Iran emerged from years of economic isolation on Saturday, January 16 when world powers lifted crippling sanctions against the Islamic Republic in return for Tehran complying with a deal to curb its nuclear ambitions.

In a dramatic move scheduled to coincide with the scrapping of the sanctions, Tehran also announced the release of five Americans including Washington Post reporter Jason Rezaian as part of a prisoner swap with the United States.

Together, the lifting of sanctions and the prisoner deal considerably reduce the hostility between Tehran and Washington that has shaped the Middle East since Iran's Islamic Revolution of 1979.

Tens of billions of dollars worth of Iranian assets will now be unfrozen and global companies that have been barred from doing business there will be able to exploit a market hungry for everything from automobiles to airplane parts.