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If the US lifts sanctions on Iranian oil, the price will fall and the market will be able to avoid the current imbalance, said Iran’s Oil Minister Bijan Zanganeh.

According to him, the United States are responsible for instability on the oil market.

"America has done most of the things it could do, and there is not much left to do against Iran," Reuters reported quoting the minister. 

The US has re-imposed sanctions on Iran. It will be brought into effect on November 4.

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