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U.S., Allies Step Up Iran Embargo Talks
(Wall Street Journal) Jay Solomon - The Obama administration, its European allies and key Arab states are intensifying discussions on how to maintain stability in the global energy markets in a possible precursor to a formal embargo on Iran's oil exports and its central bank. The officials said they are seeking assurances from major oil producers, such as Saudi Arabia, Kuwait and the UAE, to increase exports to the EU and Asian nations if tighter sanctions on Tehran's energy exports and central bank are enforced in the coming months. Representatives from 11 countries involved in the financial war against Tehran will meet on Tuesday in Rome as part of a group that has been informally dubbed the "coalition of like-minded countries."