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Treasury’s David Cohen: Iran Could Lose $11B as Oil Prices Drop

1 min read
David Cohen
David Cohen
David Cohen

David Cohen, the Treasury Department’s undersecretary for terrorism and financial intelligence, said he expects Iran to lose an additional $11 billion in revenue if oil prices continue to slip, Reuters reported Wednesday.

Patricia Zengerle and Timothy Gardner write oil prices have dropped by more than 50 percent to over $49 a barrel since the summer.

Germany and the five permanent members of the United Nations Security Council are discussing a nuclear agreement with Iran after failing to meet a November deadline for the deal, according to the report.

Cohen, speaking at a Senate Foreign Relations Committee hearing, called on lawmakers to hold off additional sanction bills as the talks continue, the report says.

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