Iran Threatens To Close Key Oil Choke Point

  • Iran Threatens To Close Key Oil Choke Point

Iran Threatens To Close Key Oil Choke Point

"If one day they want to prevent the export of Iran's oil, then no oil will be exported" from the region, he said.

Iranian President Hassan Rohani has again threatened to close a key passageway for oil trade if the US blocks oil exports.

Meanwhile, the United States has sent an aircraft carrier strike group to the Persian Gulf, marking the end to a six-month absence of such a presence in the waters, The Wall Street Journal reported.

In a televised address on Tuesday, Rouhani dismissed Washington's stated desire to reduce his Tehran's oil exports to zero, and said that Iran would take retaliatory action against any efforts to do so.

Rouhani made similar comments in July. "People should stop saying such things in the papers", he told the crowd.

Tensions have escalated between the two countries after U.S. President Donald Trump withdrew from a multilateral nuclear agreement with Iran in May and reimposed sanctions in a bid to curb the Islamic Republic's missile program and regional influence.

The latest inflation report from Iran's Central Bank says food prices rose 56 per cent year-on-year in October.

Over the weekend, US Secretary of State Mike Pompeo said that Iran tested a medium-range missile capable of carrying multiple warheads and striking parts of Europe and the entire Middle East.

"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.

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.

Rouhani said the United States would not succeed in cutting Iran's economic ties with the region and the world.

Iranian Vice President Eshaq Jahangiri said yesterday that United States sanctions were hitting vulnerable people in Iran.