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Commodities Briefing - Categorized | Financial, Oil more

Iran says oil revenues down by half

Posted on 17 December 2012

Iran’s oil revenues have been cut in half this year compared with last year, a newspaper quoted Iran’s economic minister as saying, an admission of how deeply Western sanctions are cutting Tehran’s chief source of funds.
U.S. and European Union sanctions are designed to slash oil revenues to starve Tehran of funds that might be channeled into expensive nuclear weapons programs. Iran denies it is seeking nuclear weapons, saying its atomic program is solely for peaceful purposes……………………………………..Full Article: Source


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