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SITUATION REPORT

Jan 7, 2013 | 13:04 GMT

Iran: Oil Exports Fall 40 Percent

Iran's oil exports have fallen 40 percent in the last nine months, Oil Minister Rostam Qasemi told a parliamentary commission on Jan. 7, AFP reported, citing the ISNA news agency. The final figures for the current Iranian calendar year, which ends in March, will show a significant decrease in crude export revenues, Qasemi said. Western sanctions on Iran appear to have impacted the country's economy.

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