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Thursday, January 26, 2012

EU imposes Iran oil embargo

The European Union's oil boycott is part of a U.S.-led campaign of sanctions to pressure Iran to return to talks over its nuclear enrichment program.

Europe slapped a boycott on Iranian oil Monday, signaling that the Islamic Republic's second-largest market is likely to dry up as part of a U.S.-led sanctions campaign that has already inflicted serious damage on Iran's economy and sharply increased tensions.


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