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Reports suggest sanctions on Iran aren't working

Two assessments of the West's strategy to stop Tehran's nuclear programme suggest the outlook is grim

Iran and the countries trying to stop its alleged nuclear weaponisation programme seem to be nearing a deal. Talks in Almaty at the end of February were "positive", Iran said. Another round takes place in Kazakhstan on 5 April. Progress will probably wait until after the Iranian presidential elections in June, but a breakthrough in late summer, say analysts, is possible. A deal would be big news for the oil market. The sanctions imposed on Iran have sharply cut its crude exports, which were around 2.2 million barrels a day (b/d) in 2011. At best, they now sit at around 1.4m b/d and may be much lower. So a lot of pent-up supply would hit a saturated market if the embargo were lifted. The pric

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