0331 GMT March 24, 2018
President Obama voiced optimism about the prospect of nuclear talks between Iran and major world powers underlining that stability in the Middles East requires Iran's cooperation. He had also pledged in his presidential campaign to iron out differences with the Islamic Republic after more than three decades of estrangement.
George W. Bush, Obama's predecessor, had also put forward proposals to resume ties with Tehran.
Following the devastating earthquake that struck the Iranian city of Bam, Kerman province, in 2003, reports suggested that a high-ranking delegation, headed by US Senator Elizabeth Dole, might visit Bam to explore ways of resuming bilateral relations. However, Iran politely declined the proposition.
World order is based on two foundations, one of which is a legal principle or sovereign equality of states. The other one is geopolitics or "power hierarchies".
Ordinarily, countries should resolve their problems with hegemonic powers based on mutual interests. This is because the interests of such powers are linked with world order. Such an approach secures constructive cooperation not only with the hegemonic powers, but with other nations as well.
Obama hoped that the US embassy could be reopened in Tehran one day. This touchy issue is inextricably interwoven with the conditions of the two sides. In other words, major progress in bilateral negotiations and the related breakthroughs depend on circumstances.
Currently, domestic economic problems, regional developments and international conditions necessitate that Iran conduct constructive talks with the US.
Besides, the White House is in pressing need of overcoming its problems with Tehran. As a result, the ongoing conditions demand that the two states spare no efforts to schedule constructive talks as soon as possible through goodwill.
Naturally, some obstacles should be overcome step by step, but some hurdles require urgent action.
As soon as Tehran and Washington enter into negotiations, foreign investors will rush to teem with Iranian hotels to take advantage of the country's lucrative market.
Efforts to patch up ties with the US will not only spur activity among American investors, but also attract European investors.
On the one hand, the amelioration of relations between Iran and the US will initially have positive impacts on Iran's economic and financial sectors. The upbeat outlook will give rise to the importance of bilateral diplomatic ties.
On the other hand, amicable relations with the Islamic Republic will help the US press ahead with policies aimed at easing tensions in the Middle East. Likewise, Washington will be able to mitigate its ongoing challenges in the region.