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December 29, 2012 11:00 am

The West’s Economic War Against Iran

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Iran and weapons of mass destruction.

Reuters – In his first week as U.S. president, Barack Obama told Iran’s leaders he would extend a hand if they would “unclench their fist” and persuade the West they weren’t trying to build a nuclear bomb.

So far, they have not. In response, the United States and the European Union this year took a step they had long resisted, imposing trade sanctions to choke off Iran’s lifeblood: oil revenue.

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