Pakistan Accelerates IP Pipeline Project to Avoid $18 Billion Penalty Despite US Sanctions.

Pakistan is accelerating the Iran-Pakistan (IP) gas pipeline project within its territory to avoid an $18 billion penalty, despite facing sanctions from the United States. Iran has granted an extension until September 2024 to complete the project, aiming to prevent litigation and maintain diplomatic relations. Pakistan is seeking approval to commence work on the project and is directing the financing process. The decision to proceed with the IP pipeline project within Pakistan's territory comes after previous plans were shelved due to pressure from Saudi Arabia and the US. Challenges, including US sanctions and payment issues, have hindered bilateral cooperation in the energy sector. [Extracted from the article]