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OPEC data highlights Iran’s vulnerability to oil sanctions

Posted on 18 July 2012

Iran’s leaders have repeatedly claimed that sanctions against its oil exports, aimed at pressuring it over its nuclear program, will harm the West more than they harm the Islamic Republic. Data published by the Organization of Petroleum Exporting Countries late Monday show how hollow that claim may be.
Last year, before any direct oil sanctions were imposed on Iran, the country generated 88% of its export earnings from oil. Yet its significant contribution to national income belied the apparent weakness of Iran’s oil industry………………………………………..Full Article: Source


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