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Source: http://news.yahoo.com/iran-says-u-sanctions-illegitimate-points-washingtons-arms-070843355.html
Iran Calls New U.S. Sanctions Illegitimate
(Washington Post) (Reuters) Oil Glut Dampens Iran's Hopes as Sanctions Lift - Steven Mufson When international sanctions were tightened in 2012 and took nearly 700,000 barrels a day of Iranian crude oil off world markets, the price of oil was $109.45 per barrel. With the easing of those sanctions in the middle of a massive glut, oil is selling for just $25 a barrel, less than a quarter of the 2012 level. The result will be sharply lower revenue for Iran than its leaders anticipated, and it could make international oil companies more wary about making new investments in Iran's oil fields.