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Report: Iran temporarily bans import of some luxury goods

Iran has temporarily banned the import of some "luxury goods" including foreign-made cars and mobile phones, a state-run newspaper said on Thursday, to save billions of dollars for essential products in the face of worsening sanctions.

 

Iran's oil exports, the lifeblood of its economy and the major source of revenue for the government, have dropped sharply over the past year because of Western sanctions imposed over Tehran's disputed nuclear program. (Reuters)