Wed, 27 Jun 2012 00:57:03 CDT
Iran?s deputy oil minister Ahmad Ghalebani has said oil exports may ?gradually? decline by 20% to 30% after sanctions start next week, Bloomberg has reported. Imports by China, India, Korea and South Africa may drop in the ?short term,? although the countries will need Iranian energy to feed growing demand, said Ghalebani, who is also head of National Iranian Oil Co. An EU embargo aimed at derailing Iran?s nuclear enrichment program will come into effect July 1 after talks with the Persian Gulf state failed to reach a breakthrough.
Read full article at: ameinfo.com