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Commodities Briefing - Categorized | Financial, Oil, Regulatory more

Iran sanctions cost world economy $10.2bln each day

Posted on 06 February 2013

The world economy suffers the most from the US-led western sanctions against Iran, Tehran’s former Governor to the Organization of Petroleum Exporting Countries Fereidoun Berkeshli said, stressing Iran’s strong economic foundations and its strength for standing against the western sanctions.
“According to a simulation model that we have used (at Vienna Energy Group), with an increase of every $10 in oil price, the global economic growth reduces by 0.28 percent which amounts to approximately $10.2bln per day,” Berkeshli, who also heads the Vienna Energy Group, told FNA on Tuesday………………………………………..Full Article: Source


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