Nothing Will Fix This Gas Leak

by Gerard Baker, WSJ’s The 10-Point, Nov. 19, 2013

The next time Iran sits down with world powers, it might be doing so sans its state-owned gas company. Our story finds that the National Iranian Gas Company has declared bankruptcy, as reported by the semiofficial Mehr news agency. A spokesman for the company later tried to deny the report. We note that Iran sits on top of the world’s second-largest gas reserve, but sanctions have prevented the country from expanding pipelines and exporting to Europe. The demise of the gas company would be another sign of how trade restrictions have crippled Iran’s economy and may indicate growing desperation for sanction relief ahead of another round of nuclear talks.