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No Mention of Iran Oil Sanctions by G7 Nations

OIL

The G7 nations condemned Iran’s attack on Israel on Saturday, aiming for further sanctions but notably not mentioning oil.

  • “Going forward we will reflect on additional sanctions against Iran in close cooperation with our partners. Specifically on its drone and missile programmes” it said via a statement.
  • At present, there are no signs of any Iranian oil flows being impacted by the escalating tensions. Instead, oil markets are focussed on comments of diplomacy and hopes that Israel may not respond.

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