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Iran: The US and the EU have been pushing hard for tougher sanctions on the Iranian energy sector, as the dispute over the country's nuclear power programme continues. However, some countries now face the potentially tricky and expensive task of locating an alternative source of crude oil.
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Iran: Experts have said alternative routes for Middle East crude wouldn't compensate for the loss of exports in the event of a possible blockade of the Strait of Hormuz, Dow Jones has reported. The use of longer alternate routes would increase transportation costs, said Peter Sand, chief shipping analyst at The Baltic and International Maritime Council.
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Iran: EU governments could ban the sales of some telecoms equipment to Iran in the coming months, under plans for new sanctions discussed by EU experts in Brussels, Reuters has reported. EU diplomats said on Friday the bloc's 27 governments have reached an agreement in principle to target equipment that could be used by the Iranian authorities for monitoring of anti-government dissent. "There is a political deal to include in the next round of sanctions a mechanism to ban the purchase and sale of telecommunications equipment which could be used to carry out interceptions or to spy," one EU diplomat said.
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Iran: Iranian oil minister, Rostam Qasemi has criticised some Arab countries for suggesting they could replace Iranian oil in case of disruptions in crude supplies, Reuters has reported. "Some Opec countries should adopt reasonable policies," Qasemi said in a letter to Opec President Abdul-Kareem Luaibi. "The interests of regional countries depend on joint cooperation," Qasemi added. Saudi Arabia, the world's top oil exporter, said last month it could pump more oil at a moment's notice after Iran warned Gulf oil producers not to compensate for any disruption to Iranian output.
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Iran: Rostam Qassemi, Iran's oil minister has said the Islamic Republic would not retreat from its nuclear programme even if its crude oil exports grind to a halt, and called on the European Union to review its decision last week to ban Iranian oil imports from July 1, Reuters has reported. "We will not abandon our just nuclear course, even if we cannot sell one drop of oil," Qasemi told reporters. Iran would cut oil exports to some nations in Europe in retaliation for the 27-state EU's decision to stop importing Iranian crude, he added.
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