This paper concerns the relation between the Lifted Root Number Conjecture, as introduced in [GRW2], and a new equivariant form of Iwasawa theory. At present, a main conjecture of equivariant Iwasawa theory is formulated, and its equivalence to the Lifted Root Number Conjecture is shown subject to the validity of a semi-local version of the Root Number Conjecture, which itself is proved in the case of a tame extension of real abelian fields.