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World's Top Oil Trader Says No One Will Avoid Iran Sanctions
(Bloomberg) Jack Farchy and Dina Khrennikova - The world's top oil trader said it will be near impossible to avoid U.S. sanctions on Iran, suggesting Donald Trump's attack on OPEC's third-largest producer may have a bigger impact on the global crude market than many anticipate. "For us it's a real challenge," Vitol Group Chairman Ian Taylor said on Friday at the St. Petersburg Economic forum, adding there are unanswered questions about Europe's response, and whether the European Central Bank will "stand up" to Trump's measures. "I personally think none of us will be able to get around it." Total SA CEO Patrick Pouyanne said nobody can have "any illusions" about European companies being exempt from U.S. sanctions.