"The principal of an (Iranian) oil embargo is agreed. It is not being debated anymore," says an EU diplomat. Traders expect Iran will find buyers for the roughly 18% of its crude that now goes to the EU - most likely in Asia - but will need to offer substantial discounts. Expectations of such a move have already hit the rial, which is off 40% vs. the dollar over the past month.
"The principal of an (Iranian) oil embargo is agreed. It is not being debated anymore," says an...
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