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Iran says oil revenues down by half

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16 Dec 2012 10:39 #114669 by chairman
(Reuters) - Iran's oil revenues have been cut in half this year compared with last year, a newspaper quoted Iran's economic minister as saying, an admission of how deeply Western sanctions are cutting Tehran's chief source of funds.

U.S. and European Union sanctions are designed to slash oil revenues to starve Tehran of funds that might be channeled into expensive nuclear weapons programs.
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  • vest007
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17 Dec 2012 05:13 #114736 by vest007
I think this stupid oil embargo is affecting the US much more than it is affecting Iran. Gasoline prices are raising due to the embargo, which is magnifying the inflation and job-loss in the US.

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