US, Europe, Arabs Talk On Iran Oil Embargo

From Khaleej Times

The United States, its European allies and key Arab states are intensifying talks on how to maintain stability in the global energy markets in case of a formal embargo on Iran’s oil exports and its central bank, The Wall Street Journal reported late Sunday.

Citing unnamed US and European officials, the newspaper said such an embargo would constitute the most direct economic confrontation yet between Iran and the West.

Iran has repeatedly threatened to close the Strait of Hormuz if such an embargo is introduced.

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© 2013 Energy Tribune

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