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EU embargo on Iran oil takes effect

Posted on 02 July 2012

Worries about Iran have mellowed over the past month along with the slump in global oil prices. Market watchers are hoping the relative calm persists as the European Union’s full embargo on Iranian oil takes hold.
On Sunday, the EU embargo on Iran’s oil exports began in earnest, halting the vast majority of imports into Europe, ending exemptions for contracts signed before 2012 and barring insurance for Iranian oil shipments………………………………………..Full Article: Source

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