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Oil prices will rise, Iran says, if embargo comes

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Oil prices will go up if European Union goes through with a total embargo on Iranian crude in July, Iran's economy minister says. IMF has warned oil prices could rise as much as 30 percent if Iran halts exports./ 's economy minister said oil prices will "certainly" rise if the moves ahead with an embargo in July and that sanctions will backfire on those who impose them./ The European Union is preparing for a total embargo on the purchase of Iranian crude oil in July. The has also imposed sanctions targeting Iran's energy and banking sectors ...

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