The last resort for Iran’s oil sector

With even China and Russia backing away from upstream investment, Iran has further impetus to craft a self-sufficient oil and gas sector

IF THE EU economy weren’t staring into the abyss, the attention of the global media might be less focused on Nicolas Sarkozy and Angela Merkel, and looking instead at developments in Tehran. For Iran could pose an even more toxic threat to global economic and political harmony than the fracturing eurozone. How to solve the Iranian problem is again rising to the top of the global political agenda, prompted first: by allegations in early October that it was behind a planned assassination attempt on Saudi Arabia’s US ambassador, Adel al-Jubeir; then, on 8 November, by a report submitted by the International Atomic Energy Agency that leaves little room for doubt about Iran’s plans to develop nuc