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Monday, June 25, 2012

EU approves Iranian oil embargo

European Union governments have formally approved an embargo on Iranian oil to start on July 1, dismissing calls by Greece for possible exemptions to ease its economic problems.

Europe and the United States are using the ban to intensify pressure on Iran to scale back its nuclear programme, which they say is geared to developing weapons. Iran says its nuclear works are for electricity production and other peaceful purposes only.

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