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Obama: World oil supplies ample without Iran

By REUTERS
WASHINGTON- Supplies of oil from countries other than Iran are ample enough to allow for tough sanctions on purchases of Iranian oil to continue, President Barack Obama said on Wednesday.
Under US sanctions aimed at choking oil revenue used by Iran for its nuclear program, Obama is required to ensure every six months that further curbs on Iranian oil purchases will not unduly ratchet up global prices and affect the world economy.
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