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Iran cuts boost prices and worries for leaders

Posted by alanmirs on November 7, 2010


The Associated Press
Sunday, November 7, 2010; 12:03 AM

Washington has tried to leverage one of Iran’s weak links – its shortfall in domestic refinery capacity – by seeking to block imports of pump-ready fuel. This has caused some shortages. But OPEC giant Iran still brings in 80 percent of its revenue through exports of crude oil, which pushed above $86 a barrel on Friday.

“Sanctions have increased living costs, but won’t cripple Iran’s economy,” said Tehran-based political analyst Majid Deljoo. “Sanctions that do not include export of crude oil won’t have any serious effect.”


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