Watching The World: Iran threatens Hormuz

01/02/2012
The oil and gas industry has to take notice when any disruption of supply is even mooted. Last week, Iran did that and more in threatening to close the Strait of Hormuz. "If sanctions are adopted against Iranian oil, not a drop of oil will pass through the Strait of Hormuz," said Iran's Vice-President Mohammad Reza Rahimi. "We have no desire for hostilities or violence…but the West doesn't want to go back on its plan" to impose sanctions, he said. "The enemies will only drop their plots when we put them back in their place." Such a threat can never be dismissed out of hand. After all, how many mines does it take to close a waterway, especially one as narrow a...
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