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WTI Slides On Huge Crude Inventory Build

Iranian Naval Commander Says Straits of Hormuz will not be Closed

Iranian Naval Commander Says Straits of Hormuz will not be Closed

Iranian politicians have often said that they would consider blocking the Straits of Hormuz in response to US and EU sanctions that are exerting economic pressure on the Gulf state in order to force more transparency over the nuclear enrichment program.

However in a move that reduces the potency of those threats, Alireza Tangsiri, deputy naval commander in Iran's Revolutionary Guards, has come out and stated that whilst “the enemies constantly state that the Islamic Republic of Iran intends to close the Strait of Hormuz, we say that common sense does not dictate that Iran would close the Strait of Hormuz as long as it makes use of it.”

This follows a similar thought given by Iran’s Foreign Minister Ali Akbar Salehi to Reuters earlier this month; that Iran will not follow through on any threats to block the Straits unless their own vessels were first denied use of the strait.

Iran’s parliament is currently considering a bill which recommends closing the straits in retaliation to the sanctions.

By. Charles Kennedy of Oilprice.com



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