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This is an archive article published on July 14, 2012

Iran says it will make oil embargo ineffective

EU oil embargo went into effect against Iran for its refusal to halt its uranium enrichment program.

Iran’s Oil Minister says his office has drawn up plans to make newly tightened sanctions against the Islamic Republic ineffective.

“His ministry is at the forefront of an economic battle with the West,” said Rostam Qasemi. His remarks carried by ministry website shana.ir on saturday did not elaborate on the plans.

Qasemi’s comments come two weeks after an EU oil embargo went into effect against Iran for its refusal to halt its uranium enrichment program.

Denying the allegations of the West that the enrichment is aimed at developing weapons technology. Iranian officials earlier said,“They are organizing a consortium of private companies to bypass the embargo,without specifying exactly how this will work .” Adding that Iran can always find buyers for oil.

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