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December 20, 2012 10:17 am

Iran Becoming More Creative in Dodging Western Sanctions

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Iranian tanker. Photo: wiki commons.

Reuters – DUBAI/GENEVA – Iran is becoming increasingly creative in dodging Western sanctions, managing to sell a rising volume of fuel oil to generate revenue equal to up to a third of its crude exports, which have been badly hit by restrictions.

Compared with the first half of the year, Iran has on average exported more fuel oil per month since July, when European Union oil and shipping insurance sanctions came into effect and more than halved its crude exports.

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