Iran economy remains in distress amid sanctions -U.S.'s Lew

JERUSALEM, June 18 Wed Jun 18, 2014 4:56am EDT

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JERUSALEM, June 18 (Reuters) - U.S. Treasury Secretary Jack Lew said on Wednesday Iran's economy remained in a state of distress due to sanctions over its nuclear programme and that any temporary relief the country has been granted was outweighed by losses in oil sales.

"Iran is losing a significant amount in oil sales alone from the sanctions that remain in place, more than the value of the temporary relief," Lew said in a speech in Jerusalem.

"As we approach the last month of the agreed upon period for negotiations, Iran's economy remains in a state of distress that brought the government to the negotiating table in the first place," he said. (Reporting by Steven Scheer; Editing by Toby Chopra)

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