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Thursday, July 15, 2010     GET REAL

Sanctions plus rising fuel consumption spells trouble for Iran

LONDON — International sanctions against Iran have already hampered its energy industry.

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The International Energy Agency said Western sanctions have harmed development of Iran's crude oil and natural gas sectors.

The agency said Iran has been struggling with rising gasoline consumption and the danger of unrest with any termination of fuel subsidies.


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"Tougher U.S. sanctions aimed at squeezing Iran's energy and banking sectors have deepened the Islamic republic's international isolation and significantly reduced its sources of fuel," the agency said on July 13.

The agency pointed out that France's Total has joined BP, Glencore, Reliance and Royal Dutch Shell in suspending gasoline and refined products to Iran. IEA said Iran was trying to evade sanctions by building oil refineries.



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