We are venture capitalists, an Iranian and an Israeli, who became good friends 15 years ago through mutual technology investments. Today, if the right policies are enacted following the Israel-Iran War, we believe Persian and Israeli business leaders stand on the precipice of historic economic cooperation between two great countries: Israel and the once and future Republic of Iran.
Hamas’ atrocities on Oct. 7, and their Iranian patrons’ dash toward nuclear weapons, have only strengthened our determination to build a better future for Iran, Israel and the region.
Indeed, today, there are emerging opportunities previously unimaginable. Ten years ago, Shervin called Michael and said: “Let’s figure out a way to have coffee in Tehran someday.” An exiled Persian living in America, Shervin thought that was audacious, perhaps just out of reach. Michael, born and raised in America, thought it a fantasy.
In late December 2023, Michael called Shervin to bring our people closer together and plan a better future. Out of these talks, we founded the Israeli Iranian Alliance. Weeks later, IIA hosted a dinner in New York with the Crown Prince Reza Pahlavi, Persian-American, Jewish and Israeli businesspeople, and public figures to jointly plan a cooperative economic future between Iran, Israel and the United States. Iran’s current position represents untapped potential to benefit the three countries.
Iran is a dynamic country of 90 million people with enormous in-built advantages. Its citizens’ entrepreneurship and innovative spirit is very similar to Israel, despite nearly 50 years of repression. Its people thrive in Western markets: The CEO of Uber is originally from Iran, as is Google’s former chief business officer, the founder of eBay and many others.
Iran is also geographically critical for two competing supply chains: China’s Belt and Road Initiative (BRI) and the India Middle East Corridor (IMEC), supported by the United States, Israel, India, Saudi Arabia and the United Arab Emirates.
Following current hostilities, either the emergence of a new regime, or in Iran’s terms of surrender, it is crucial for the United States, Israel and other members of the Abraham Accords to bring the future Iran into the Western economic sphere, especially including integration into IMEC.
Iran could also become a major global oil exporter. Currently, Iran exports roughly 1 million barrels a day. Its largest export markets today are China, Venezuela, and Syria. Sanctions have broadly reduced exports, though there has been moderate cyclical growth since 2022. Increased oil production from a democratic Iran would reduce global oil prices, a benefit worldwide.
Similarly, Iran is awash in rare earth minerals. According to the current Iranian Ministry of Industry and Trade, just two mines in Iran are home to 125 million tons of rare earth elements (REEs). Light REEs, used in electric motors for turbines and electric vehicles, and heavy REEs, used in high-temperature military applications, exist in large quantities in Iran, alongside other byproducts used in semiconductor manufacturing. Gallium, a critical byproduct of REEs available in Iran, has been restricted by China, impeding America’s strategic efforts to reshore production of semiconductors.
These resources would provide enormous benefits to all parties. President Trump and Israeli Prime Minister Bibi Netanyahu should make economic integration of the future Republic of Iran central to the end of this war. While Israel’s crippling of the ayatollah’s nuclear and military capabilities is an impressive surprise victory of David over Goliath, the true triumph will come from the prosperity, integration, and mutually beneficial peace that ensues.
Iran should enter into free trade agreements with the United States, Israel, and all Abraham Accords countries. It should commit to integrating its rare earth mines and minerals into the Abrahamic allied supply chains, creating an even more robust future for AI innovation.
As its 90 million people integrate into the global economy, new markets will open for American and Israeli companies, and a new security and prosperity framework for the region will guarantee these benefits for generations to come.
When we conceived of them 18 months ago, we called these economic agreements the “Cyrus Accords,” in recognition of Cyrus the Great emancipating the Jewish people and setting them on the road to sovereignty 2,500 years ago. But should this economic integration unfold, it would be just as well to fold it into the Abraham Accords.
As the verse in Genesis tells us, “Abraham was very heavily laden with livestock, with silver, and with gold.” There is no reason his spiritual descendants should not experience the same blessings.
Pishevar is an Iranian-American entrepreneur, venture capitalist, super angel investor, and philanthropist. Eisenberg is an American-born Israeli businessman, venture capitalist, and author.
