3 Responses to Iran threatens to block oil shipments in Strait of Hormuz if oil sanctions are imposed on the country

  1. Preppin Pawpaw says:

    Alvin,
    Interesting counter story to this move….. seems things are beginning to boil rapidly.
    http://www.cnn.com/2011/12/28/world/meast/iran-us-hormuz/index.html?hpt=hp_c1
    Thanks P.P.

    Like

  2. Tim says:

    Iran: Iran Warns of Closing Strategic Oil Route:
    Iran’s navy chief warned Wednesday that his country can easily close the strategic Strait of Hormuz at the mouth of the Persian Gulf, the passageway through which a sixth of the world’s oil flows. It was the second such warning in two days. On Tuesday, Vice President Mohamed Reza Rahimi threatened to close the strait, cutting off oil exports, if the West imposes sanctions on Iran’s oil shipments. “Closing the Strait of Hormuz is very easy for Iranian naval forces,” Adm. Habibollah Sayyari told state-run Press TV. “Iran has comprehensive control over the strategic waterway,” the navy chief said. The threats belie Iranian concern that the West is about to impose new sanctions that could target Tehran’s vital oil industry and exports. Western nations are growing increasingly impatient with Iran over its nuclear program. With concern growing over a possible drop-off in Iranian oil supplies, a senior Saudi oil official said Gulf Arab nations are ready to step in if necessary and offset any potential loss of Iranian crude in the world markets. Iran is the second largest OPEC oil producer, with an output of about 4 million barrels of oil a day. It relies on oil exports for about 80 percent of its public revenues.

    http://news.yahoo.com/iran-warns-closing-strategic-oil-route-133134174.html

    Like

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