US Sanctions on Iran: Implications for the Economic Cooperation Organization (ECO)

Abstract

Inspired by the success of European integration process, the Economic Cooperation Organization (ECO) members decided to take advantage of their potency and resources through collaborative efforts. They prioritized trade, transport and energy as the core area of activities. However, the US sanctions on Iran, the core member of ECO, proved catastrophic for the performance of ECO in its core areas of operation. The paper primarily aims to investigate how far the US sanctions impinged upon the performance of ECO in its major priority areas in general and the energy cooperation in particular? The paper argues that the growing the US-Iran animosity imperiled the prospects of success for many ECO projects and plans. The study is qualitative, descriptive and analytical and its findings suggest that for smooth and successful operations of ECO, it is essential to create ease for all the member states. Otherwise, it will hinder the ambition of regional as well as global prosperity, growth and sustainable development.