An unnamed Pakistani finance ministry official said the Industrial and Commercial Bank of China (ICBC), the world’s most valuable lender, appears to have backed away from plans to build a US$1.25 billion gas pipeline project from Iran to Pakistan, Reuters reported. “I don’t think they are in the mood to brave American pressure and the threat of sanctions from any dealings with Iran,” he said on condition of anonymity. Pakistan’s Economic Coordination Committee (ECC) said ICBC is “showing less interest,” but the country’s Ministry of Petroleum denied the allegations, blaming media distortions. ECC stated that without ICBC, there were four funding options: new taxes, new bank financing, government-to-government agreements with Russia or China, or funding the project entirely in conjunction with the Iranian government. Pakistan’s Foreign Minister Hina Rabbani Khar said the project was viable and ensuring funding should not be a problem.