Tuesday 02 November 2010

Iran acknowledges sanctions driving up costs

Iran's commerce minister on Saturday denied that international sanctions imposed on the country over its disputed nuclear program have damaged Tehran's trade ties and said the penalties will prove futile.

Iran is under four sets of UN Security Council sanctions as well as other penalties by the United States and the European Union over its refusal to halt uranium enrichment - a technology that can be used to produce nuclear fuel or an atomic bomb. (AP)




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