As the United States and its European allies continue to impose sanctions on Iran, the Mideast country is becoming more defiant and combative.
European companies will no longer be involved in insuring Iranian oil. The latest measures come on top of previous sanctions levied by the United States and the West that have already hit Iran’s economy.
The United States imposed a new round of sanctions on Thursday, targeting financial institutions of any country that buys Iranian oil. Twenty economies are exempt from the sanctions for a period of 180 days.
As an EU oil embargo took effect on Sunday, Iranian leaders said the country was beginning a new round of war games that would involve firing missiles at models of foreign air bases.
The nation’s National Security and Foreign Policy Committee also drafted a bill calling for Iran to attempt to stop oil tankers from shipping crude through the Strait of Hormuz — a key oil shipping route — to countries that support sanctions, a committee member reportedly said on Monday.
Iranian General Hossein Salami said last week: “Iran has complete control of all the enemy’s interests around the world and is on a path to reach equivalency with world powers.”
According to Salami, Iran’s Revolutionary Guards have more than 1,000 ballistic missiles that are capable of reaching all U.S. bases in the region, all of Israel and some capitals in Europe. He added that the nation is also working with China and North Korea on intercontinental ballistic missiles.