US sees major cut in Iran oil exports due to sanctions

By REUTERS
January 23, 2012 21:47

 
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WASHINGTON - A senior US Treasury official said on Monday that Iran's oil exports would be slashed after Washington implemented its new sanctions aimed at preventing Tehran from developing nuclear weapons.

"We do expect there will be a significant reduction in Iran's exports," said the official. "We anticipate that Iran will have increasing difficulty accessing the revenues from the oil it is able to sell."

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