The chief of Iran’s navy has warned that Iran could easily close the strategic Strait of Hormuz in response to western sanctions, according to the Globe and Mail. Admiral Habibollah Sayyari announced on Iranian state-run Press TV on Wednesday, “closing the Strait of Hormuz is very easy for Iranian naval forces,” echoing similar remarks made on Tuesday by Vice President Mohamed Reza Rahimi. The comments come as the Iranian navy conducts a ten-day military exercise in the region. The West has shown increasing concern over Iran’s nuclear program, accusing the regime of attempting to develop weapons under the guise of civilian nuclear energy and medical research. Meanwhile, Saudi officials have said Gulf countries can step up oil production to make up for any potential shortfalls in Iranian oil. The nation currently produces about four billion barrels daily, and depends on oil exports for 80 per cent of its revenues.
Wednesday, December 28, 2011