Iran has agreed to establish a joint inquiry with Argentina to investigate the bombing of the Argentina Israelite Mutual Association (AMIA) building in Buenos Aires. Argentinian President Cristina Fernández de Kirchner announced an agreement to create a joint commission to investigate the incident. Tehran announced its desire to solve this issue forever, but the agreement caused a shock within the Israeli society. Israeli newspaper Haaretz said that Argentina “has fallen in the Iranian trap,” while Argentinian officials described the decision as “historical”. There are signs of a political deal between Tehran and Buenos Aires to settle this issue and lift charges against Iranian officials; otherwise, the Iranian government would not have agreed to this independent inquiry that could lead to prove charges against eight of its officials. In addition, the Argentinian economy, which suffers from the policies of the International Monetary Fund (IMF), is on the brink of collapse and needs to diversify partnerships and open new key markets such as Iran. If Iran succeeds in solving this issue, it will be a diplomatic achievement and Tehran will put it to good use. It will launch a huge media campaign to prove its innocence from a number of terrorist acts, which it was indicted for. This will have a big effect on its rapprochement with the US and the West; thereby, explaining the slogan of turning “challenges into opportunities,” which has been used repeatedly by Iranian politicians.