Few people are aware that Iran is currently subjected to not one, but
three sets of sanctions imposed by U.S., the United Nations and the
European Union, the latter two over concerns about Iran’s civilian
nuclear energy program, which both Washington and Israel allege masks a
covert nuclear weapons program, a charge Iran steadfastly denies.
The first U.S. economic sanctions against Iran were instituted in 1979 following the overthrow of the Pahlavi monarchy and its replacement by an Islamic Republic, while the first United Nations Security Council sanctions again Iran were implemented by Resolution 1737, voted in 23 December 2006. Earlier this year, European Union foreign ministers agreed to place sanctions on Iranian oil and oil products because of Iran’s purported non-compliance with its obligations of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), and the EU sanctions entered into force on 1 July.
The collective effect of the trio of legislative restrictions is to impede Iranian oil and natural gas exports, the source of the majority of its foreign currency earnings until Tehran suspends its uranium enrichment activities. Iran maintains that by signing and ratifying the NPT, its Article IV permits its current nuclear activities.
But while the legislation has increasingly shut off Iranian hydrocarbon exports, there is one sector of Iran’s energy industry that is flourishing – electricity exports.
And this trade, lucrative as it is, stymies Washington’s efforts to squeeze Iran’s economy because, in four out of five instances, the trade is with U.S. allies.
According to the U.S. government’s Energy Information Administration, “Iran is a net exporter of electric power and currently exports electricity to neighboring states including Armenia, Pakistan, Turkey, Iraq, and Afghanistan.”
And exactly who are these miscreant states aiding and abetting the Iranian economy?
Read more: http://oilprice.com/Geopolitics/Middle-East/Irans-Untouchable-Energy-Exports.html
The first U.S. economic sanctions against Iran were instituted in 1979 following the overthrow of the Pahlavi monarchy and its replacement by an Islamic Republic, while the first United Nations Security Council sanctions again Iran were implemented by Resolution 1737, voted in 23 December 2006. Earlier this year, European Union foreign ministers agreed to place sanctions on Iranian oil and oil products because of Iran’s purported non-compliance with its obligations of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), and the EU sanctions entered into force on 1 July.
The collective effect of the trio of legislative restrictions is to impede Iranian oil and natural gas exports, the source of the majority of its foreign currency earnings until Tehran suspends its uranium enrichment activities. Iran maintains that by signing and ratifying the NPT, its Article IV permits its current nuclear activities.
But while the legislation has increasingly shut off Iranian hydrocarbon exports, there is one sector of Iran’s energy industry that is flourishing – electricity exports.
And this trade, lucrative as it is, stymies Washington’s efforts to squeeze Iran’s economy because, in four out of five instances, the trade is with U.S. allies.
According to the U.S. government’s Energy Information Administration, “Iran is a net exporter of electric power and currently exports electricity to neighboring states including Armenia, Pakistan, Turkey, Iraq, and Afghanistan.”
And exactly who are these miscreant states aiding and abetting the Iranian economy?
Read more: http://oilprice.com/Geopolitics/Middle-East/Irans-Untouchable-Energy-Exports.html
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