{"id":1924,"date":"2017-11-25T20:13:35","date_gmt":"2017-11-25T21:13:35","guid":{"rendered":"https:\/\/madaresharghi.com\/big-gas-exporters-blast-unilateral-us-sanctions\/"},"modified":"2017-11-25T20:13:35","modified_gmt":"2017-11-25T21:13:35","slug":"big-gas-exporters-blast-unilateral-us-sanctions","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/big-gas-exporters-blast-unilateral-us-sanctions\/","title":{"rendered":"Big Gas Exporters Blast Unilateral US Sanctions"},"content":{"rendered":"<p><a href=\"http:\/\/madaresharghi..com\">madaresharghi<\/a><br \/>\n<\/p>\n<p> \tRepresentatives of major energy-exporting nations on Friday said they oppose the use of unilateral sanctions on any of their members in a dig at the United States for its moves against Russia, Iran and Venezuela.<br \/> \tThe Gas Exporting Countries Forum, which also includes members like Libya, Equatorial Guinea and Nigeria, expressed their \u201cprofound concern\u201d about sanctions affecting the gas sector, which are not authorized by the United Nations, according to a communique signed by GECF\u2019s 12 members after the group\u2019s summit in Bolivia this week, Reuters reported.<br \/> \tThe US Congress has imposed economic sanctions on a number of GECF members, including recent measures against Russia that-among other things-seek to prevent companies from participating in Russian pipeline projects. Russia is the world\u2019s second biggest natural gas producer behind the US, which is not a GECF member, and depends heavily on its pipeline systems to reach its main customers in Europe.<br \/> \tRussian Energy Minister Alexander Novak said earlier on Friday that the United States should not be permitted to impose such sanctions without a vote of the United Nations Security Council, of which Russia is a member.<br \/> \tWashington also has imposed sanctions this year on Venezuela to pressure President Nicolas Maduro\u2019s government and has threatened to reimpose some anti-Iran sanctions that were lifted as part of a 2015 deal to freeze its nuclear program.<br \/> \tUS President Donald Trump has said Iran is violating the \u201cspirit\u201d of the 2015 deal.<br \/> \tThe GECF communique on Friday said its membership would agree to cooperate toward a sustainable global natural gas market, while promoting the fuel\u2019s use.<br \/> \tThe meeting came as GECF members struggle with slumping global gas prices, blamed largely on surging supply from the US and elsewhere, that have reduced investment and returns in parts of the industry.<br \/> \tNovak said the oversupply on the world market could trigger a \u201ccrisis\u201d drop in prices, similar to what occurred in the crude oil market. Gas prices already have plunged more than 80% in the past decade and remain under pressure due to growing supplies of shale gas and increased availability of liquefied natural gas that can be shipped overseas.<br \/> \tThe US has been able to vastly increase its output of oil and gas in recent years, as improved drilling technology opened previously inaccessible reserves.<br \/> \tThe GECF is modeled after the Organization of Petroleum Exporting Countries, whose 12 member nations manage oil supply to control prices. While GECF has called for increased cooperation to defend its gas market, it has not applied production limits as OPEC has done.<\/p>\n<p> \t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>madaresharghi Representatives of major energy-exporting nations on Friday said they oppose the use of unilateral sanctions on any of their members in a dig at the United States for its moves against Russia, Iran and Venezuela. The Gas Exporting Countries Forum, which also includes members like Libya, Equatorial Guinea and Nigeria, expressed their \u201cprofound concern\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Big Gas Exporters Blast Unilateral US Sanctions - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/big-gas-exporters-blast-unilateral-us-sanctions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big Gas Exporters Blast Unilateral US Sanctions - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Representatives of major energy-exporting nations on Friday said they oppose the use of unilateral sanctions on any of their members in a dig at the United States for its moves against Russia, Iran and Venezuela. 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