On December 14, Iran announced that it had suspended a 250-million-dollar loan to Pakistan to build a part of the Iran-Pipeline project, which will allow Pakistan to import 21.5 million cubic meters (mcm) per day of Iranian natural gas to satisfy its growing energy needs. Deputy Oil Minister Ali Majedi told Pakistani officials that, due to sanctions,...

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TEHRAN, Iran (AP) -- Iran has canceled a planned $500 million loan to Pakistan to build part of a pipeline to bring natural gas from the Islamic Republic. Deputy Oil Minister Ali Majedi said Iran has no obligation to finance the Pakistani side of the project and also doesn't have the money. Iran has already invested over $2 billion to construct ...