It is the exception that proves the rule. The likely exemption of a BP gas project, in which Iran holds a stake, from recent US and EU sanctions shows how western energy policy suffers from being turned to political ends.
Naftiran Intertrade Company (Nico), a unit of Iran's national oil company, holds 10 per cent in Azerbaijan's Shah Deniz gasfield, the cornerstone of plans to export Azeri gas via Turkey to Europe to reduce dependence on Russia.
"Our sanctions policy should impose maximum economic pain on the Iranians without allowing Russia to hold Eastern Europe hostage for energy," a senior US congressional aide noted. Therefore, after strenuous European lobbying, legislation is likely to exempt Azerbaijan gas exports.
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