Home arrow World arrow Screws tighten on Iran as big buyers shun its oil (Reuters)
Screws tighten on Iran as big buyers shun its oil (Reuters)
Thursday, 05 January 2012

FILE - In this Thursday, Oct. 30, 2008 file photo, an Iranian money changer holds currency with Ayatollah Ruhollah Khomeini's image in Tehran, Iran. The latest U.S. sanctions to be imposed on Iran have not only unveiled the depth of the country's economic woes, but exposed new fault lines within the government just two months before parliamentary elections that should bolster the control of the ruling clerics. (AP Photo/Hasan Sarbakhshian, File)Reuters - Iran faced the prospect of cutbacks in its oil sales to China and Japan as new measures to block Tehran's crude exports over its nuclear program appeared to be driving its economy to the wall.