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Iran Economy - Page 2

European Union foreign ministers imposed fresh sanctions on Iran on Monday, British Foreign Secretary William Hague said.

The sanctions come because of Iran's "defiance of six U.N. Security Council resolutions and its refusal to enter negotiations over its nuclear program," Hague said in a statement from Brussels, Belgium.

Details of the sanctions will be available as soon as legal formalities are completed, said Maja Kocijancic, a spokeswoman for EU foreign policy chief Catherine Ashton.

The EU was considering an embargo on buying Iranian oil, as well as restrictions on Iran's trade in gold and precious metals and a freeze on certain Iranian financial assets.

Iran exports 2.2. Million barrels of oil a day, with about 18% bound for European markets, according to the U.S. Energy Information Administration. The world consumes about 89 million barrels of oil per day. Ref. CNN

Economy Iran

'Iran oil exports increase in January despite sanctions':

Iran, the second-biggest producer of the Organization of Petroleum Exporting Countries (OPEC), exported 2.265 million barrels a day in January, its highest monthly figure since December 2008, Bloomberg reported on Monday. Ref. Source 6

Iran Economy History & Civil Business Politics

Iran threatens to cut oil to "whole Europe", claims to have alternative buyers:

Iran will cut oil export to all European countries if they do not lift sanctions on Tehran after the next round of talks in Baghdad, country's Oil Minister Rostam Qasemi said on Thursday, Mehr reported. Ref. Source 6

Page 2 Economy Iran

Iran, Spain sign oil contract worth €1.6 billion

The contract comes at a time when Iran is being punished by tough international sanction against its oil industry Source 1

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Iran, Venezuela Strike 130 Million Oil Deal

Iran and Venezuela have signed a deal, worth $130 million, based on which Iran will construct an offshore platform yard in Venezuela Source 1

Economy Iran

Iran fights oil embargo with £150bn reserve:

"We are implementing programmes to counter sanctions and we will confront these malicious policies," Mehr news agency quoted the go Ref. Source 9

Iran Economy

Sanctions cut Iran's July oil exports to nearly half:

July's cut translates into a loss of around $3.4 billion in monthly government revenue compared to a year ago, a major setback for Tehran as it struggles to contain spiraling consumers prices and mounting unemployment. Ref. Source 9

Iran Economy - Page 2

Ahmadinejad says Iran will be world's 15th largest economy in 2 years:

"According to global reports, our economy is ranked 17th in the world now, and we will be the 15th by the next two years," Ahmadinejad said, addressing a ceremony in Iran's Northwestern city of Zanjan on Wednesday, July 11. Ref. Source 9

Iran Economy Politics Business Civil & History - Page 2

US official says Iran currency to face more pressure:

"And just to be clear about this, the sanctions will remain in place and will intensify so long as Iran refuses to engage meaningfully about its nuclear programme," he said. Ref. Source 8