URGENT UPDATE ON IRAN NUCLEAR CRISIS -- WESTERN SANCTIONS REGIME SPIRALING DOWNWARD - IRANIAN PRESIDENT DECLARES THAT THE IRANIAN ECONOMY HAS OFFICIALLY EXITED A SANCTIONS-DRIVEN RECESSION - EXPERTS QUESTION THE ROBUSTNESS AND INTEGRITY OF EXISTING SANCTIONS REGIME- VIA THE ISRAEL PROJECT Iranian state media boasted on Tuesday that Tehran has successfully inked an oil and gas deal with a top Italian energy company, bragging that the deal came despite the fact that Iran has yet to reach a final agreement with the P5+1 global powers regarding the country’s atomic program. The story emerged just a few days after a Gulf outlet reported that that the Iranians will soon attend a week-long energy exhibition in Oman indicated aimed at promot[ing] trade between the Sultanate and the Islamic Republic of Iran with the participation of more than 100 Iranian companies. Both announcements in turn came just days after Iranian President Hassan Rouhani declared that the Iranian economy had officially exited a sanctions-driven recession. The developments have deepened long-standing worries that sanctions relief provided to the Islamic republic under the interim Joint Plan of Action (JPA) is spiraling beyond public predictions issued months ago – and then consistently defended – by top Obama administration officials. Foundation for Defense of Democracies (FDD) Executive Director Mark Dubowitz conveyed the Iranian braggadocio regarding the Italian deal alongside a pointed question about the robustness of the Western sanctions regime. Administration officials have been perceived as scrambling to keep up with Iranian progress in eroding the sanctions regime. Treasury Department officials announced on Tuesday that they were imposing sanctions on more than half a dozen Iranian targets that, per a Reuters description of the charges, had “supported Irans efforts to avoid sanctions and backed the governments human rights abuses, including censorship.” Lawmakers have become increasingly critical of the administration’s ability to check the erosion of the sanctions regime, and have become concomitantly skeptical of the White House’s claim that Western negotiators have sufficient leverage to extract meaningful concessions from the Iranians. Sen. Lindsey Graham (R-SC) predicted over the weekend that there will be a very vigorous Congress when it comes to Iran,” and that a vote regarding sanctions legislation was likely in January. VIA MEHRNEWS.COM TEHRAN, Dec. 30 (MNA) – National Iranian Oil Company announced signing of an agreement with a European company to start the new oil and gas discoveries in Iran’s Salt Domes. Although Iran talks with the 5+1 have not yet led to a final agreement, European companies have begun negotiations with Iran ot exploit advantages of its high oil and gas reserve. Following the negotiations and correspondence between the National Iranian Oil Company (NIOC) and Italy’s Eni S.p.A Oil and Gas Company as well as Russias LUKOIL, the first oil and gas exploration contract was signed with a European company. Currently, Iran holds the largest hydrocarbon reserves in the world with 157 billion barrels of crude oil and over 34 trillion cubic meters of natural gas reserves. Based on the former estimates, Iran has crude oil and natural gas for production and export up to at least 50 and 80 years respectively, without any new discoveries. NIOC exploration director Hormoz Ghalavand announced signing of a contract with a European company to carry out exploration activities in the Salt Domes. He reiterated that the exploration activities in the Salt Domes will be carried out by the European international company. The official reminded that in addition to oil and gas exploration project in Salt Domes, negotiations has been made with the European company for technology transfer. On the other hand, NIOC Board of Directors has issued approval of the cooperation with the European company, Ghalavand said. In a recent interview with reporters, Ghalavand announced negotiations with 18 international companies to sign contracts on oil and gas exploration and development in 40 new exploration blocks. Earlier, NIOC had also announced that Iran has ranked first in the world on new discoveries of oil and gas, especially in recent years. According to OPEC official report, Iran upgraded its rank to third place in the world after Saudi Arabia and Venezuela. en.mehrnews/detail/News/105287 Like · · Share
Posted on: Wed, 31 Dec 2014 02:28:51 +0000
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