Economy

Amid US sanctions, Iran threatens again to close key strait

Amid US sanctions, Iran threatens again to close key strait

In his latest warning over U.S. sanctions, Iranian President Hassan Rouhani warned the United States that if Tehran isn't able to export oil then they will act to stop any country in the Gulf from doing the same.

Rohani also vowed that the United States would not be able to prevent Iran from exporting its crude oil.

The strait at the mouth of the Persian Gulf is crucial to global energy supplies.

Rouhani made similar comments in July.

"If someday, the United States decides to block Iran's oil [exports], no oil will be exported from the Persian Gulf", Rouhani said.

Hook said President Donald Trump's campaign of "maximum pressure" on Tehran since withdrawing from the Iran nuclear deal "can be effective if more nations can join us in those [sanctions]".

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On Monday, the United States urged the European Union to apply sanctions targeting Iran's ballistic missile programme, calling it a "grave and escalating threat".

Pompeo, who also met with Israeli Prime Minister Binyamin Netanyahu in Brussels on the fringes of a North Atlantic Treaty Organisation summit on Monday, said the test violated UN Security Council Resolution 2231, which endorsed the Iran nuclear deal signed by world powers with the Islamic republic. "Of course they never had a friendship with the people of Iran and we never trusted America or others 100 per cent".

"The United States should know that we are selling oil and we will sell our oil and it can not block Iran's oil export", he said on Tuesday addressing the people of Shahroud in Semnan province broadcast live on state TV. "Because if Iran's oil money is not deposited into the account, it's not clear that there would be any funds for trade, because oil is a major part of Iran's exports", Zarif said, according to the website.

It appears the presence of the USS John C. Stennis is aimed at preventing such a possibility of Iran blocking the Strait of Hormuz from happening. In return, the Islamic Revolutionary Guard Corps and other Iranian officials warned the U.S. against attempting to curb Tehran's oil trade, promising to block the Strait of Hormuz, the only exit from the Persian Gulf - one of the key sources of oil exports in the world.

But the agency quoted diplomats as saying that, with United States threats of retribution for sanctions-busting unrelenting, the goals of the nascent trade mechanism could be scaled back to encompass only less sensitive items such as humanitarian and food products.


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