Navy chief says Iran could 'easily close' major oil route
Source: Agencies |
December 29, 2011, Thursday
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IRAN'S navy chief warned yesterday that his country could easily close the 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," Admiral Habibollah Sayyari told state-run Press TV yesterday. "Iran has comprehensive control over the strategic waterway."
The threats underline 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. The United States and its allies have accused Iran of using its civilian nuclear program as a cover to develop nuclear weapons.
Iran has denied the charges, saying its program is geared toward generating electricity and producing medical radioisotopes to treat cancer patients.
The US Congress has passed a bill banning dealings with the Iran Central Bank, and President Barack Obama has said he will sign it despite his misgivings.
Critics warn it could impose hardships on US allies and drive up oil prices.
The bill could impose penalties on foreign firms that do business with Iran's central bank. European and Asian nations import Iranian oil and use its central bank for the transactions.
With concern growing over a possible drop-off in Iranian oil supplies, a senior Saudi oil official said Gulf Arab nations were ready to step in if necessary and offset any potential loss of Iranian crude in world markets.
Reflecting unease over rising tensions, the US benchmark crude futures contract for February delivery was above US$101 per barrel in electronic trading on the New York Mercantile Exchange. Its London-based Brent counterpart fell slightly, but still remained above US$109 per barrel.
Iran is the world's fourth-largest oil producer, with an output of about 4 million barrels a day. It relies on oil exports for about 80 percent of public revenue.
The country has adopted an aggressive military posture in recent months in response to increasing threats from the US and Israel of possible military action to stop Iran's nuclear program.
The Iranian navy is in the midst of a 10-day drill in international waters near the strategic oil route. The exercises involve submarines, missile drills, torpedoes and drones on a 2,000-kilometer stretch off the Strait of Hormuz.
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," Admiral Habibollah Sayyari told state-run Press TV yesterday. "Iran has comprehensive control over the strategic waterway."
The threats underline 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. The United States and its allies have accused Iran of using its civilian nuclear program as a cover to develop nuclear weapons.
Iran has denied the charges, saying its program is geared toward generating electricity and producing medical radioisotopes to treat cancer patients.
The US Congress has passed a bill banning dealings with the Iran Central Bank, and President Barack Obama has said he will sign it despite his misgivings.
Critics warn it could impose hardships on US allies and drive up oil prices.
The bill could impose penalties on foreign firms that do business with Iran's central bank. European and Asian nations import Iranian oil and use its central bank for the transactions.
With concern growing over a possible drop-off in Iranian oil supplies, a senior Saudi oil official said Gulf Arab nations were ready to step in if necessary and offset any potential loss of Iranian crude in world markets.
Reflecting unease over rising tensions, the US benchmark crude futures contract for February delivery was above US$101 per barrel in electronic trading on the New York Mercantile Exchange. Its London-based Brent counterpart fell slightly, but still remained above US$109 per barrel.
Iran is the world's fourth-largest oil producer, with an output of about 4 million barrels a day. It relies on oil exports for about 80 percent of public revenue.
The country has adopted an aggressive military posture in recent months in response to increasing threats from the US and Israel of possible military action to stop Iran's nuclear program.
The Iranian navy is in the midst of a 10-day drill in international waters near the strategic oil route. The exercises involve submarines, missile drills, torpedoes and drones on a 2,000-kilometer stretch off the Strait of Hormuz.
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