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Claims that sanctions on Iran are starting to bite

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Claims that sanctions on Iran are starting to bite


Experts believe international sanctions against Iran are starting to have an impact. The sanctions mean that Iran has difficulty being paid in foreign currency and as a result their banking system is becoming isolated.

The country, whose oil industry provides them with an estimated 80 per cent of their export earnings, say that they will continue to supply India with oil despite being owed two billion dollars.

In a further tightening of the sanctions, the world’s biggest shipping line Maersk, who provide Iran with food imports, has announced the suspension of operations at three Iranian ports, raising fears the action could disrupt supplies.

Demands have increased on the United Nations security council to make public a report on Iran sanctions, but it is being blocked by Russia.

It is claimed Iran is carrying out breaches of their nuclear sanctions with the help of Syria. However, Iran argues its missile development programme is evidence the UN sanctions are ineffective. The defence minister has said their programme is indigenous and does not rely on foreign countries.

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