Iran warned on Wednesday that its country could easily close the strategic Strait of Hormuz, at the mouth of the Persian Gulf, a passage through which one-sixth of the world's oil gravitates.
It was the second such warning in two days. On Tuesday, Vice President Mohamed Reza Rahimi threatened to close the strait, cut off oil exports if the West imposes sanctions on oil shipments from Iran.
Blocking the Strait of Hormuz is very easy for Iranian naval forces, Iran has complete control over the strategic waterway, the navy chief said.
The Iranian threats come as the West is set to impose new sanctions that could target Tehran's oil industry and its exports.
Western nations are increasingly impatient with Iran's 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 towards generating electricity and producing medical radioisotopes to treat cancer patients.
The American Congress passed a law prohibiting relations with the Central Bank of Iran, a law which will be signed by the president despite some reluctance. Critics warn it could cause oil shortages and drive up gas prices.
The bill could impose sanctions on foreign companies that do business with the Central Bank of Iran.
Iran is the world's fourth largest oil producer, with production of around 4 million barrels of oil per day. It relies on its oil exports for about 80% of its government revenue.
Iran has adopted an aggressive military posture in recent months in response to growing threats from the United States and Israel to take military action to stop Iran's nuclear program.
source: People's Consciousness
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