Iran makes oil threats against US and Israel

Albuquerque News.Net
Monday 30th June, 2008

In a local newspaper article, Tehran has threatened to impose controls on shipping in the vital Gulf oil route if anyone should attack the country.

Kuwait is already developing contingency plans to secure oil exports in the event Iran closes the oil route, state news agency KUNA announced Monday.

'There are precautionary plans to export Kuwaiti crude in cooperation with the Gulf Cooperation Council, but those plans are not finalised yet,' Saad Al-Shuwaib, the head of state oil company Kuwait Petroleum Corp (KPC) told KUNA.

Meantime the commander of the U.S, navy's Fifth Fleet warned on Monday that the U.S. would not allow Iran to shut the Strait Gulf oil route.

'They will not close it. They will not be allowed to close it,' Vice-Admiral Kevin J. Cosgriff told a press conference in Bahrain, where the Fifth Fleet is based. Cosgriff added, 'Any action by Iran to close the route will not be an action against the United States, but against the international community'.

Iran’s disputed nuclear ambitions have created anxiety in the region and last week it was reported Israel had been involved in a military practice against Iran.

Fear of an escalation in the quarrel between the West and Iran has propped up oil prices on international markets.

Iranian officials have already used the threat of cutting off oil as a weapon.

Analysts say Iran could cause havoc in the region by striking at US or Israeli interests.

Have your say on this story