Amid the weighty burden of US sanctions against Iran, Pakistan has reportedly taken a significant step by discontinuing a multi-billion dollar gas pipeline project. This venture was designed to facilitate the import of affordable energy from Tehran.
The ‘India-Pakistan-Iran’ project
According to local sources, this decision is a consequence of the formidable sanctions imposed on Iran due to its nuclear program. Initially, it was envisioned as an ambitious India-Pakistan-Iran gas pipeline endeavor. But the project’s dynamics shifted when India withdrew. Ultimately transforming it into a bilateral cooperation between Pakistan and Iran.
The development underscores Pakistan’s economic challenges, compelling it to seek financial stability with the support of International Monetary Fund (IMF). The IMF extended a substantial $3 billion loan to aid the cash-strapped economy.
Also read: “No Plan To Spend Rs.400 Million On 14th August Flag Installation”: Govt Of Pakistan
With Pakistan grappling to put its financial affairs in order, the deterrent impact of US sanctions on Iran’s nuclear pursuits has led Pakistan to abandon the pipeline project. This move highlights the intricate geopolitical considerations and economic constraints that nations must navigate in an ever-changing global landscape.
What do you think of the story? Let us know in the comments section below!
