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Iran feels pinch of new EU oil sanctions

July 2, 2012
By NASSER KARIMI , THE ASSOCIATED PRESS

TEHRAN, Iran - As new European Union sanctions targeting Iran's vital oil industry took effect Sunday, Tehran acknowledged the measures aimed at reining in its disputed nuclear program were taking a toll. The vice president said authorities had stockpiled imported goods and hard currency to help cushion the blow to the economy.

 
 

 

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