Tensions between Iran and the U.S. escalated to new heights on Tuesday, when a senior Iranian official threatened to cut off its oil flow through the Strait of Hormuz if the U.S. moved forward with its plans to impose economic sanctions on the country in an attempt to thwart its nuclear ambitions. As President Obama prepared to sign in new sanctions that could substantially reduce Iran's oil revenue, Iran's first vice president, Mohammed-Reza Rahimi, vowed to block all oil exports via the Strait of Hormuz, a move that could stir military conflict among countries dependent on its supply. A White House spokesman said the president, who is currently vacationing in Hawaii, would not be commenting on Rahimi's threat. The warning implies that the U.S. would pay a high price for the imposed sanctions, as Iran could potentially cause U.S. oil and gasoline prices to soar, slowing the economy down even further.
No comments:
Post a Comment