1

U.N.'s Iran sanctions may target gas

Iranian President Mahmoud Ahmadinejad

TEXT OF STORY

Steve Chiotakis: Iranian President Mahmoud Ahmadinejad is keeping on with his hard-line nuclear policies. And the United Nations has given him until the end of the month to stop enriching uranium.
Now Iran could face yet another set of sanctions. From London, Stephen Beard reports.


Stephen Beard: The U.N. has already imposed three sets of sanctions on Iran. They've all proved ineffective.

But the U.S. and its allies are now planning the most powerful measure so far: they want to target Iran's gas imports. Because of its own shortage of refineries, Iran has to import around 40 percent of the petroleum it needs.

Hindering those supplies will cause real harm, says Mohammed Shakeel of the Economist Intelligence Unit:

Mohammed Shakeel: These sanctions, if and when they are passed -- and they are very likely to be passed now -- will hurt Iran dramatically. Iran's economy is going to suffer.

He says the price of gasoline will shoot up, making transport and electricity much more expensive for millions of Iranians. But he believes the Iranian regime try to unite the population by blaming the price hikes on America.

In London, this is Stephen Beard for Marketplace.

About the author

Stephen Beard is the European bureau chief and provides daily coverage of Europe’s business and economic developments for the entire Marketplace portfolio.
Log in to post1 Comment

This is exactly what the Iranian regime is looking for. It gives them the prefect excuse to stop the fuel rationing and fuel subsidizing and increase the goverments income considerably. This is the best present Ahmadinejad could wish for.

With Generous Support From...