Any change in Iran’s economic fortunes is tied to how successful the country’s new reformist president-elect Masoud Pezeshkian will be in getting the strangling western sanctions removed and how quickly he brings rampant inflation under control,

The election of Masoud Pezeshkian as president of Iran creates an opportunity, albeit only a limited one, for Iran to move away from its absolutist anti-Western foreign policy.

Iran's president-elect, low-profile moderate Masoud Pezeshkian, carries the hopes of millions of Iranians seeking less restrictions on social freedoms and a more pragmatic foreign policy.