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Sanctions Lift Boosts Iran Revenue
The United States has announced a comprehensive lifting of sanctions on Iranian oil, allowing oil trading in dollars for the first time in over four decades. This exemption, which lasts for 60 days, covers the production and sale of oil and petrochemical products and permits previously sanctioned entities to conduct transactions, potentially releasing revenues estimated between 8 and 9 billion dollars for Iran. This decision marks the largest rollback of oil sanctions since the Islamic Revolution of 1979 and comes amidst fragile negotiations between Washington and Tehran regarding a lasting peace agreement.
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