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New EU sanctions target Iran's petrochemical exports

October 16, 2012 | Ian Young

The European Union (EU) has tightened restrictions on Iranian exports of petrochemicals, as part of a broadening of sanctions against Iran that aims to draw the Iranian government into serious negotiations on its nuclear program. The measures prohibit the use of vessels owned by EU citizens and companies to transport or store Iranian oil and petrochemical products. "The supply of vessels designed for the transport or storage of oil and petrochemical products to Iranian persons and entities, or to other persons and entities, for the purpose of transporting or...

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