U.S. Tightens Oil Sanctions on Iran

on March 30, 2012 at 3:15 PM

President Obama ratcheted up the pressure on Iran Friday, deciding to implement previously announced sanctions that will be the toughest to date.

The decision declares that world oil markets can be adequately supplied even if a significant portion of Iran’s 2.2 million barrels a day in oil exports is taken off the table.