Title: Strategic cooperation of Iran at the regional level: enduring the US sanctions and reviving the oil and gas industry

Authors: Ceyhun Mahmudlu; Sang Yoon Shin

Addresses: Caspian Research Institute, Baku, Azerbaijan ' Department of Entrepreneurship and Small Business, College of Business Administration, Soongsil University, Seoul, South Korea

Abstract: Iran intends to alleviate the damage caused by the hostile relationship with the USA. As one way of the efforts, this research focuses on Iran's oil and gas cooperation with neighbouring countries, specifically those in the Middle East, the Caucasus and Central Asia. The analysis draws three conclusions depending on the theoretical framework of energy geopolitics. First, the efforts of Iran to overcome the situation have not been successful, combined with low oil prices by 2020. Second, Iran emphasises transportation as well as trade in its oil and gas cooperation with neighbouring countries. Finally, regional cooperation will bring substantial benefits to Iran in both economic and geopolitical aspects, working as a platform for increasing its undervalued influence at the global level.

Keywords: Iran; oil and gas industry; regional cooperation; the Middle East; US sanctions.

DOI: 10.1504/IJDIPE.2022.127040

International Journal of Diplomacy and Economy, 2022 Vol.8 No.2, pp.190 - 208

Received: 21 Apr 2022
Accepted: 12 Aug 2022
Published online: 18 Nov 2022 *

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