Iran's president defends U.S. memorandum of understanding as best path forward – CBS News

Iran’s president defends U.S. memorandum of understanding as best path forward  CBS News

The new head of Iran's supreme national security council issued the warning to countries who join the U.S.'s economic war on Tehran. Follow updates on the war in the Middle East for Monday, Aug. 24, here. See earlier developments below. Iran said on Sunday it had discovered more than 200 billion cubic metres of natural gas, months into the Middle East war that has hit the country's energy infrastructure and production. "New gas reserves were discovered in the south of Fars province," Petroleum Minister Mohsen Paknejad told state television, adding that over 160 billion cubic metres could be extracted from the field. He described it as sweet natural gas, which has very little of the toxic gas hydrogen sulphide, resulting in lower operating and development costs.

According to Bloomberg, any new production from the site would likely be years away. Iran's energy sector has taken a hit since joint U.S.-Israeli strikes on the Islamic Republic launched the Middle East war in late February. The countries have struck Iran's energy infrastructure, such as gas production facilities or oil depots, as well as transport routes. Iranian President Masoud Pezeshkian defended the memorandum of understanding signed with the U.S. in June as the best way for the country to move beyond what he described as a situation of "neither war nor peace." In