WI the British didn't pull back from its oil sanctions against Italy?

On December 18 1935, the British government pulled back oil sanctions against Italy, as it might have led to war. The Yugoslav, Greek, French and Turkish governments agreed to support Britain in such a case. However, the fear for the Germans supporting the Italians led to the British government, whose army was not prepared, pulling back the embargo.

What if the British Government didn't withdraw the oil sanctions?

 
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