Sanctions could have major impact on the global economy Iran is currently facing imposing sanctions from the European Union that could have serious economic implications for the country. These sanctions are spurred by Iran’s refusal to put a stop to its controversial nuclear power program, as well as other reasons. The most recent sanctions from the EU will institute an insurance ban, barring companies from providing insurance coverage to ships transporting oil that was produced in Iran. The ban has caused a stir in the world of politics, even for…
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