IEA Warns Russia, Iran Against Pushing ‘Resource Nationalism’

Ministers of International Energy Agency member states warned major natural gas producers such as Russia and Iran on Tuesday against disrupting energy markets with production-adjusting actions based on nationalism and using their rich resources as leverage over others, IEA officials said.

“If energy-producing countries strengthen state control (on production) in an excessive manner, that may cause a slowdown in foreign investment” in those countries, Japanese Senior Vice Foreign Minister Katsuhito Asano said at the meeting, according to a Japanese official who was present at the forum.

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