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May 16th, 2012 
FAKE NEWS for the Zionist agenda Following reports by Reuters earlier this month that Britain was trying to persuade other EU members to postpone up to six months the proposed ban, Hague told British MPs that the EU is reconsidering the ban over fears that it would have “serious” impact on “oil prices and the world economy”.
“The reason we are discussing that separately is because of concerns raised by other countries outside the European Union about the impact on their trade and so we are currently assessing that, working with France in particular to try to understand how serious that impact would be”, said Hague.
“We are clearly applying sharply increased pressure to Iran but we also have to bear in mind wider consequences for oil prices and the world economy and balance those concerns”, he added.
The strongest impact of the EU insurance ban, which is to take effect on 1 July, is most likely to be felt in London’s financial district, the center for marine insurance, reported Reuters.
Meanwhile, ahead of the upcoming round of talks between Iran and the six major world powers (P5+1) in the Iraqi capital, Baghdad, Hague threatened Iran with wider sanctions if the country does not take “concrete steps” regarding its nuclear energy program.
Iran has repeatedly announced that its nuclear energy program is solely for peaceful purposes and the International Atomic Energy Agency (IAEA), which has conducted visits to the country’s nuclear sites, has never found any evidence otherwise.
Nevertheless, Britain has frequently said it is intent on putting a stop to Iran’s nuclear activities, to which Iran is entitled under article IV of the treaty on the Non-Proliferation of Nuclear Weapons (NPT).
ISH/GHN/HE
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