Sanctions felt - TimesDaily: Archives

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Sanctions felt

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Posted: Thursday, October 4, 2012 12:00 am | Updated: 5:18 pm, Thu May 30, 2013.

The West’s stiffened sanctions against Iran are apparently starting to bite.

Since July, when the European Union voted to end purchases of Iranian oil, Iran’s main source of income, exports have fallen by 30 percent or more. And sanctions against Iran’s banks have blocked access to as much as $110 billion in foreign currency reserves.

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