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Found 1 result

  1. Taxation or closure of Strait of Hormuz? The West, including the US are using the logic of war, terrorism and force/sanctions on Iran. Iran could either impose a good amount of taxes on all goods including oil passing through the Strait of Hormuz or simply block it. The West had already declared a war on Iran. Sanctions are part of a cold war, and Strait of Hormuz is part of Iran's strategy to respond to any acts of war; no sweet is distributed during any war. _______________________________________ Iran to 'block' Gulf oil if sanctions proceed Vice-president threatens to cut off shipments at Strait of Hormuz if West sanctions Iran's vital oil exports. No oil will be allowed to pass through the Strait of Hormuz if the West applies sanctions on Iran's oil exports, Iranian Vice-President Mohammad Reza Rahimi has warned. The threat was reported on Tuesday by the state news agency IRNA as Iran conducted its fourth day of naval drills near the Strait of Hormuz, at the entrance to the oil-rich Gulf. "If sanctions are adopted against Iranian oil, not a drop of oil will pass through the Strait of Hormuz," Rahimi was quoted as saying. "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." The threat underlined Iran's readiness to target the narrow stretch of water along its Gulf coast if it is attacked or economically strangled by Western sanctions. War games Iranian ships and aircraft dropped mines in the sea on Tuesday as part of the drill, according to a navy spokesman. Although Iranian war games occur periodically, the timing of these is seen as a show of strength as the US and Europe prepare to impose further sanctions on Iran's oil and financial sectors. The last round of sanctions, announced in November, triggered a pro-government protest in front of the British embassy in Tehran during which Basij militia members overran the mission and ransacked it. London closed the embassy as a result and ordered Iran's mission in Britain shut as well. An Iranian legislator's comments last week that the navy exercises would block the Strait of Hormuz briefly sent oil prices soaring before that was denied by the government. While the foreign ministry said such drastic action was "not on the agenda", it reiterated Iran's threat of "reactions" if the current tensions with the West spilled over into open confrontation. Saudi steps in Industry sources said on Tuesday that top oil exporter Saudi Arabia and other Gulf OPEC states were ready to replace Iranian oil if further sanctions halt Iranian crude exports to Europe. Iranian Oil Minister Rostam Qasemi had said that Saudi Arabia had promised not to replace Iranian crude if sanctions were imposed. "No promise was made to Iran, its very unlikely that Saudi Arabia would not fill a demand gap if sanctions are placed," an industry source familiar with the matter told the Reuters news agency. "If the sanctions take place, the price of oil in Europe would increase and Saudi and other Gulf countries would start selling there to fill the gap and also benefit from the higher price," said a second industry source. Brent crude oil futures jumped nearly a dollar to over $109 a barrel after the Iranian threat, but a Gulf OPEC delegate said the effect could be temporary. Aljazeera
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