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Iran raises oil exports to West, almost on par with Asia

June 9, 2017 By Nidhi Verma NEW DELHI (Reuters) – Iran’s oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, a source familiar with Iranian oil exports said. Iran, which used to be OPEC’s second biggest oil exporter, has been raising output since 2016 to recoup market share lost to regional rivals including Saudi Arabia and Iraq. While many Asian nations continued to purchase oil from Iran during sanctions, Western…

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Assad allies say U.S. attack on Syria air base crosses ‘red lines’

April 9, 2017 By Suleiman Al-Khalidi AMMAN (Reuters) – A joint command center made up of the forces of Russia, Iran and militias supporting Syrian President Bashar al-Assad on Sunday said the U.S. strike on a Syrian air base on Friday crossed “red lines” and it would respond to any new aggression and increase its support for its ally. The United States fired dozens of cruise missiles at a Syrian air base on Friday from which it said a deadly chemical weapons attack had been launched earlier in the week,…

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U.S. senators set bipartisan bill to tighten sanctions on Iran

March 23, 2017 By Patricia Zengerle WASHINGTON (Reuters) – Iran would face tighter U.S. sanctions over ballistic missile launches and other non-nuclear activities under a bill announced on Thursday by a bipartisan group of senators, echoing a harder line on Tehran espoused by Republican President Donald Trump. The bill has seven Republican and seven Democratic sponsors, and aides said it has a good chance of eventually becoming law. It would set mandatory sanctions for anyone involved with Iran’s ballistic missile program. And it would apply sanctions to the Islamic Revolutionary…

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China’s ZTE pleads guilty, settles with U.S. over Iran, North Korea sales

March 7, 2017 By Karen Freifeld NEW YORK (Reuters) – Chinese telecom equipment maker ZTE Corp will plead guilty and pay $892 million to settle allegations it violated U.S. laws that restrict the sale of American-made technology to Iran and North Korea, the company and U.S. government agencies said on Tuesday. ZTE entered into an agreement to plead guilty to conspiring to violate the International Emergency Economic Powers Act, obstruction of justice and making a material false statement, the U.S. Justice Department said. The settlement was made with Justice, the…

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