October 14, 2011 | Quote

U.S. Considers Sanctions on Iran’s Central Bank

Mark Dubowitz, a specialist on sanctions at the Foundation for Defense of Democracies, said a so-called designation of the bank would not halt all of Iran's crude oil sales, but it would sharply raise the cost of such transactions and thus “drain the Iranian treasury.” He said Iran, the third-largest OPEC oil exporter, is a “one-crop country” that derives 50% to 75% of its government revenue from crude oil.


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