Iran discovers new oilfield in Caspian Sea; Russia sees further sanctions against Iran as “counterproductive”
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  • Reports noted that Iran has discovered an oilfield in the Caspian Sea, according to reports. The oilfield is said to be at a depth of 2,460 meters. The Oil Minister was quoted as saying that that capacity of the oil is yet to be explored. 1

    In another development, the Russian Deputy Foreign Minister has stressed that the introduction of new UN Security Council sanctions or any other coercive means would be counterproductive. Gennadiy Gatilov said that there is a need for a political settlement of the Iranian nuclear problem and this can be facilitated at the next round of the Iran - 5 + 1 group that is scheduled to take place in Baghdad on May 23, 2012. 2

    • 1. “Iran's new oilfield in Caspian Sea discovered at a depth of 2,460 meters”, Islamic Republic of Iran News Network, May 17, 2012
    • 2. “Senior Russian diplomat says further sanctions against Iran "counterproductive"”, Interfax news agency, May 14, 2012