IRAN: Bypassing the Arabs

To free its oil from the entanglement of Arab politics and the dangers of a blockaded Suez Canal, Iran last week signed an agreement with its Baghdad Pact partner, Turkey, for a $500 million oil pipeline. Presumably, oil from the rich new northern field of Qum will be piped over the mountains to a Mediterranean port in southern Turkey. Estimated savings in oil transport costs: 90%.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!