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The U.N. nuclear agency on Monday confirmed that Iran has begun enriching uranium at an underground bunker to a level that can be upgraded more quickly for use in a nuclear weapon than the nation's main enriched stockpile. That development has increased fears among U.S. and European officials about Iran's nuclear ambitions. Beyond voicing criticism of the U.S. on his tour, Ahmadinejad is also likely to look for ways to use his Latin American alliances to diminish the impact of sanctions on Iran's oil industry, said Diego Moya-Ocampos, an analyst with consulting firm IHS Global Insight in London. However, Moya-Ocampos predicted that "Venezuela is going to be very careful not to push its relationship with Iran beyond the U.S. tolerance limits," so as not to risk being hit with more U.S. sanctions. Last year, the U.S. imposed sanctions on state oil company Petroleos de Venezuela SA for delivering at least two cargoes of oil products to Iran. Venezuelan Oil Minister Rafael Ramirez told reporters the government had not made any oil-related agreements with Iran. Asked about the sanctions against Iran and its threats to block the Strait of Hormuz, Ramirez said OPEC, to which both countries belong, could not get involved in the issue. "Any action that Iran takes in defense of its sovereignty is a matter of Iran," Ramirez said.
[Associated
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