Oil declines before US Iran sanctions
Oil prices declined by 1% ahead of the United States' announcement of the toughest sanctions on Iran, aimed at exerting pressure on Tehran and targeting its trading partners. Brent crude fell to $93.45, and West Texas Intermediate to $86.14, amid expectations of more rigorous economic and financial measures, amid threats of the largest financial war ever. These sanctions are part of Washington's efforts to pressure Iran by targeting its economic policies and financial system, while calling on China to cooperate through diplomacy.
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