January 22-2016
Canada expects to lift its sanctions on Iran soon, but for some unexplained reason didn’t do so last weekend. Canada has a problem other countries sanctioning Iran do not have; it is a major oil exporter and Iran’s return to unconstrained oil exports may drive down the price of oil and hurt its economy. Rona Ambrose, the leader of the opposition Conservative Party, said the government should be wary about lifting sanctions because Iran has not proven trustworthy in the past. Furthermore, she said, “Let’s remember that once those sanctions are removed that Iran is going to flood the market with cheap oil, which has a huge effect on the Canadian economy a well.” But it is the removal of EU and US sanctions that will allow Iran to flood the market; Canadian sanctions won’t impact that. Foreign Affairs Minister Stephane Dion told reporters Sunday the cabinet would soon decide whether and how to lift Canada’s sanctions. He also said Canada would re-open its embassy in Tehran at some point. “It cannot be done overnight, but the prime minister said very clearly during the campaign that this is something that we want to do properly in a timely fashion.” The embassy was closed in September 2012.