Sen, Bob Menendez, D-N.J., and fellow Democrats say they’ll hold off on Iranian sanctions as U.S. Treasury Department officials weigh the damage to Tehran’s oil sector. UPI/Molly Riley Iran under the terms of a November 2013 agreement is allowed some oil exports in exchange for commitments to curb some of its nuclear research activity. In mid-January, Mohsen Rezaei , secretary of the influential Expediency Council, said exports have since dropped by 1.5 million barrels per day and inflicted more than $100 billion in revenue losses. U.S. Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen testified before members of the Senate Banking Committee on the effectiveness of existing sanctions, saying Iran is exporting less than half of the oil it was in 2012 and only to six countries. “Because Iran cannot access Western technology and services, and because it has been forced to sharply cut its oil exports, we […]