Sanctions on Iran Have Hit Oil Exports

Stringent new sanctions imposed by the United States and European Union against Iran have curbed the country's oil exports by more than 1 million barrels of oil per day, according to new data released by the International Energy Agency.

The IEA data, released late last week as part of a little-noticed annual report, paints the first detailed picture on how hard the sanctions have hit Iran: The agency estimates the country's oil exports have fallen by almost a third over the past three months, representing a substantial loss of income for the government.

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