http://www.rt.com/news/iran-bill-hormuz-strait-218/Iran lawmakers prepare to close Hormuz Strait
Published: 02 July, 2012, 18:26
Iranian lawmakers have drafted a bill that would close the Strait of Hormuz for oil tankers heading to countries supporting current economic sanctions against the Islamic Republic.
"There is a bill prepared in the National Security and Foreign Policy committee of Parliament that stresses the blocking of oil tanker traffic carrying oil to countries that have sanctioned Iran," Iranian MP Ibrahim Agha-Mohammadi told reporters.
"This bill has been developed as an answer to the European Union's oil sanctions against the Islamic Republic of Iran."
Agha-Mohammadi said that 100 of Tehran's 290 members of parliament had signed the bill as of Sunday.
Iran's threats to block the waterway through which about 17 million barrels a day sailed in 2011 have grown in the past year as US and European sanctions aimed at starving Tehran of funds for its nuclear programme have tightened.
The Strait of Hormuz is a vital shipping route through which most of the crude exported from Saudi Arabia, the United Arab Emirates, Kuwait and Iraq and nearly all the gas exported from Qatar sails.
An EU ban on Iranian oil imports came into effect on Sunday.
...[ Interesting Past forboding and notice that Oil has been dropping with the global economy - just in time panic... ]http://www.rt.com/news/iran-close-strait-hormuz-embargo-455/Iran 'definitely' closing Strait of Hormuz over EU oil embargo
Published: 23 January, 2012, 16:07
Tensions in the Gulf could reach a breaking point as a senior Iranian official said Iran would “definitely” close the Strait of Hormuz if an EU oil embargo disrupted the export of crude oil
...http://www.bloomberg.com/news/2012-01-08/iran-able-to-block-strait-of-hormuz-general-dempsey-tells-cbs.htmlIran Able to Block Strait of Hormuz, General Dempsey Says on CBS
By Kathleen Hunter and Viola Gienger - Jan 8, 2012 9:00 PM PT
Iran has the ability to block the Strait of Hormuz “for a period of time,” and the U.S. would take action to reopen it, Joint Chiefs of Staff chairman General Martin Dempsey said.
“They’ve invested in capabilities that could, in fact, for a period of time block the Strait of Hormuz,” Dempsey said in an interview aired yesterday on the CBS “Face the Nation” program. “We’ve invested in capabilities to ensure that if that happens, we can defeat that
Feb 14, 2012 8:57pmU.S. Carrier Group Makes Way Through Strait of Hormuz
It was just after dawn when three U.S. warships and a carrier strike group began their long, tense transit through the Strait of Hormuz. The strait has become a pressure point as Iran increases the heat of its rhetoric against the United States because of fresh economic sanctions imposed against it.
In December, Iranian officials warned the United States not to return to the Persian Gulf after the carrier USS John Stennis departed.
“You want to be always at the max state of readiness to respond to anything,” Capt. Richard McDaniel of the USS Sterett said.Iran recently threatened to close the Strait of Hormuz
, attempting to use its control over the waterway as a trump card in its standoff with the West. One-fifth of the world’s oil supply — 17 million barrels a day in 2011 — passes through the strait
, and the United States gets approximately 10 percent of its oil supply — 1.7 million barrels a day — from the strait.
Though Iran is not expected to close the strait, analysts still fear that a closure could double the price of oil
thereby erasing any prospect of a U.S. economic recovery and plunging the world into a new Great Recession.