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(Washington Post) Thomas Erdbrink - Despite Iranian threats to block the vital Strait of Hormuz if Western nations tighten sanctions on Iran by imposing an oil embargo, the Islamic republic needs the strait at least as much as its adversaries do, Iranian and foreign analysts said. Iran relies on the Hormuz Strait as the departure gate for its biggest client: China. "We would be committing economic suicide by closing off the Hormuz Strait," said an Iranian Oil Ministry official. "Oil money is our only income, so we would be spectacularly shooting ourselves in the foot by doing that." 2011-12-29 00:00:00Full Article
Iran Unlikely to Block Oil Shipments through Strait of Hormuz, Analysts Say
(Washington Post) Thomas Erdbrink - Despite Iranian threats to block the vital Strait of Hormuz if Western nations tighten sanctions on Iran by imposing an oil embargo, the Islamic republic needs the strait at least as much as its adversaries do, Iranian and foreign analysts said. Iran relies on the Hormuz Strait as the departure gate for its biggest client: China. "We would be committing economic suicide by closing off the Hormuz Strait," said an Iranian Oil Ministry official. "Oil money is our only income, so we would be spectacularly shooting ourselves in the foot by doing that." 2011-12-29 00:00:00Full Article
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