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Sanctions Cost Iran $60 Billion in Oil Investments, Burns Says

Tougher U.S. sanctions on Iran are costing the Islamic regime as much as $60 billion in lost energy investments, Undersecretary of State William Burns said today.

Expanded U.S. sanctions on Iran and businesses active there prompted Royal Dutch Shell Plc, France’s Total SA, Italy’s Eni SpA and Norway’s Statoil ASA to stop investing in the country.