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20 February 2009

Reverse 'oil weapon' on Iran

from Washington Times

About 80 percent of Iran's export revenue and almost half of its government's budget come from oil and gas. According to recent reports, Iran must sell oil priced at more than $80 per barrel to keep its budget balanced. Oil now costs about half that amount on the world market.

Already weakened by U.S. and EU sanctions, Iran's economy now stands on the brink of economic collapse. The once popular President Mahmoud Ahmadinejad faces growing discontent from a citizenry suffering from high inflation, unemployment and poverty and now beginning to question Iran's foreign policy isolation.

[Timber! - Sarge]

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