U.S. official says low oil prices add to Iran woes during temporary nuclear pact

Reuters News
Posted: Jan 21, 2015 10:01 AM

WASHINGTON (Reuters) - David Cohen, the U.S. Under Secretary for Terrorism and Financial Intelligence, said on Wednesday that low oil prices mean Iran will lose billions of dollars more in oil revenue during the seven-month extension of its temporary nuclear agreement.

"If oil prices remain at current levels, Iran will lose an additional $11 billion in oil revenue from what it was expecting to take in during this most recent seven-month extension of the JPOA," Cohen said in prepared remarks for a Senate Foreign Relations Committee hearing in which he urged lawmakers not to pass more sanctions legislation now.

(Reporting by Patricia Zengerle; Editing by Doina Chiacu)