Iran will expand its import restrictions.
Iran is to limit imports to half the value of oil the exporting nations buy from Iran, informed Iranian sources said. The plan, proposed by the Oil Ministry, aims among other things to recapture some of the share of the oil market that Iran has lost during its 52-month-old Persian Gulf war with Iraq. The scheme has applied to trade with Japan since late last year and will now be extended to other nations, mainly countries that are members of the Organization for Economic Cooperation and Development, the sources said.
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