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

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

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.

Check Also

New VA Law Set to Streamline Claims, Appeals Process for Veterans

The Department of Veterans Affairs implemented legislation to streamline the agency’s claims and appeals process for former U.S. service members. VA said Tuesday that the Veterans Appeals Improvement and Modernization Act of 2017 will reduce its inventory of legacy appeals. 

Leave a Reply

Your email address will not be published. Required fields are marked *