Iran to EU: Hey, we’d be happy to supply you with your natural gas needs… « Hot Air: "Iran has the fourth-largest proven oil reserves in the world along with the second-largest proven natural gas reserves, and the international sanctions that have been crippling their energy-reliant revenue stream and economic growth (at least, they were until the Obama administration started lifting them in exchange for diddly squat, that is) have proven to be quite a nuisance — which is precisely why Iran has lately been taking the opportunity afforded by Russia’s aggression with Ukraine to remind the European Union that they have a whole bunch of ready reserves just waiting to be tapped. Europe gets about a third of its natural-gas supplies from Russia, a lot of which currently flows through pipelines in Ukraine; Europeans are starting to consider building up their import infrastructure and even doing their own fracking, but in the meantime, the threat of future supply disruption still looms as a possibility as the EU tries to work with Russia to settle on a deal. Iran is hoping that this newfound focus on diversified supply sources to enhance energy security will create a new willingness in the EU to perhaps cut them some more slack on the sanctions."
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