Iran dangles threat of $18bn penalty over pipeline project

ISLAMABAD: In a new development, Iran has asked Pakistan to construct a portion of the Iran-Pakistan (IP) gasline project in its territory till February-March 2024, or be ready to pay a penalty of $18 billion.

The authorities in Tehran communicated this to the visiting Pakistan official delegation some three weeks ago, a senior official of the Ministry of Energy told The News. During the visit, Iranian authorities said that the US sanctions on Iran were illegal and Pakistan, under the revised agreement, was bound to erect the pipeline in its territory till February-March 2024. Iran had already completed part of the pipeline in its own territory from the gas field to the Pakistan border.

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