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Iran Threatens To Lock Down Oil Supply Amid Talk Of Sanctions

December 29, 2011 by  

Iran Threatens To Lock Down Oil Supply Amid Talk Of Sanctions

Iranian leaders said Tuesday that if the United States imposes sanctions being set up against their country, it will cut off all oil shipments through the Strait of Hormuz, a vital supply route through which one-fifth of the world’s oil supply is shipped.

According to The New York Times, the declaration was made by Iranian First Vice President Mohammad-Reza Rahimi, as President Barrack Obama prepares to sign legislation that could substantially reduce Iran’s oil revenue to keep the country from pursuing a nuclear weapons program.

The Obama Administration has been working in recent months to put in place a plan to cut off Iran from global energy markets without risking higher fuel prices. The Iranian economy is already weak, and oil exports account for much of the country’s revenues so Iranian officials are worried about the sanctions.

“If they impose sanctions on Iran’s oil exports, then even one drop of oil cannot flow from the Strait of Hormuz,” Rahimi said, according to Iran’s official news agency.

The White House said that the disruption would not be tolerated there is talk that the Obama Administration is working on a plan to keep the supply route open in the event of crisis. Some officials speculate that the latest sanctions are setting the stage for violent confrontation between the United States and Iran.

 

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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