The U.K. and EU have reportedly convinced some U.S. legislators to exempt a BP (BP) led...

|About: BP p.l.c. (BP)|By:, SA News Editor

The U.K. and EU have reportedly convinced some U.S. legislators to exempt a BP (BP) led natural-gas project in the Caspian sea from sanctions against Iran. The $20B scheme, which is seen as key to reducing the EU's dependence on Russia for its gas, is 10% owned by Iranian state-owned Naftiran Intertrade.