Iran threatens to choke key global oil route

Tehran warns it will close Strait of Hormuz if West imposes oil sanctions

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.

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Iran threatens to choke key global oil route

  1. I guess the first question is why would an oil rich nation even need nuclear energy?

    The second question is does Iran really want to lose it’s entire navy in this exercise?

    The good feeling that occurs when you stop banging your head against a brick wall requires that you eventually STOP doing it.

    I do think someday there will be pipelines between Iran and China and India, this will result in a permanent breach in the OPEC cartel. You can bet that China will not be dictated to by USA policy that states all oil sales must be in US dollars, nor will Iran. This alone may be the underlying urgency behind US foreign policy in Iran.

    Perhaps we will again see the market setting prices for oil instead of artificial political interference controlling it through limited production.

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