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You're reading: Iran vows to confront ‘malicious’ embargo
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The EU ban on crude imports is part of a push by Western countries aimed at choking Iran’s export earnings and forcing it to curb a nuclear programme they fear includes weapons development. Tehran says it has no such plan.

“We are implementing programmes to counter sanctions and we will confront these malicious policies,” Mehr news agency quoted central bank governor Mahmoud Bahmani as saying.

He said the effects of the sanctions were tough but that Iran had built up $150 billion in foreign reserves.

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