WASHINGTON (AP) — The U.S. has concluded that nearly half of Iran's monthly earnings from crude oil exports are accumulating in accounts overseas because of sanctions that restrict Tehran's access to the money.
The estimates, provided to The Associated Press by a senior U.S. official and never released before, are the latest indication that new sanctions imposed in February are deepening Iran's economic distress and making it increasingly difficult to access billions of dollars in vital oil revenues. The official spoke on condition of anonymity because of the sensitivity of sanctions policy.
The U.S. hopes the pressure will force Iran to compromise on its nuclear program, which the West suspects is aimed at making a weapon. Iran insists the program is for peaceful uses only.
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