Tuesday, June 25, 2019

(JNS) Amid current and upcoming U.S. sanctions on Iran, the regime is struggling to survive increasing prices over natural gas.

With the second round of sanctions slated to take effect on Nov. 4, the Trump administration’s decision to bar Iranian crude exports has led to a 29 percent decrease in oil shipments in the past few months, contributing to an increase in natural gas prices above $80 per barrel.

“The difficulty in getting gas from Iran now is linked to the issue of transferring money to Iran because of the American sanctions,” Sadoun Shehan, the deputy head of media at Iraq’s electricity ministry, told The Wall Street Journal. “[This has] prevented any money transfer from Iraqi banks, especially in U.S. dollars, to Iran.”

Looking to avoid further international sanctions, 143 out of 268 Iranian lawmakers voted to join a global initiative to end terrorist funding, including loopholes for groups like Hamas and Hezbollah.

Known as the “Combating the Financing of Terrorism,” the international convention “involves investigating, analyzing, deterring and preventing sources of funding for activities intended to achieve political, religious or ideological goals through violence and the threat of violence against civilians,” according to the online site Investopedia.

However, this development is unlikely to cease Iran’s role as the world’s leading state sponsor of terrorism.