MOSCOW, January 6 (RIA Novosti)
- United States dismisses Iran’s belligerent statements
- Paris calls on Iran not to block Hormuz strait
- Iran test-fires long-range missile in Persian Gulf - media
- Iran denies launch of missile in Persian Gulf
- Iran test-fires medium-range surface-to-air missile – media
- Tehran threatens to block Strait of Hormuz
Iran is planning to hold new “massive” naval exercises near the strategic Strait of Hormuz within the next few weeks, the country’s Fars news agency has said, as Tehran’s tensions with the West continue to escalate following threats of new sanctions against the Islamic Republic over its controversial nuclear program.
Iranian Defense Minister Ahmad Vahidi was quoted in the Fars report as saying the Islamic Revolution Guards Corps was planning to conduct “its greatest naval war games” near the Straight of Hormuz in the near future.
The announcement came just days after the Iranian navy completed its 10-day naval exercises near the Strait of Hormuz. The drills were held after the Islamic Republic threatened to block the waterway, where an estimated 40 percent of the world's seaborne oil passes, in response to Western plans to ban oil imports from Iran. The Islamic Republic derives some 60 percent of its budget revenues from oil exports.
The newly announced Iraninan drills, codenamed The Great Prophet, may coincide with major naval exercises that Israel and the United States are planning to hold in the Persian Gulf in the near future. AP quoted on Thursday a senior Israeli military official as saying the drills would be held in the next few weeks.
The exercises, called Austere Challenge 12, which both Israeli and U.S. officials have described as the largest-ever joint drills by the two countries, are designed to improve missile defense systems and co-operation between the U.S. and Israeli forces.
The United States on Saturday approved sanctions targeting Iran's oil industry, and the European Union will consider banning Iranian oil imports during a meeting of EU foreign ministers in late January.
The sanctions are designed to persuade Iran to drop what Western powers believe is a secret nuclear weapons program developed by Tehran.
Iran denies the claims, saying its nuclear program is for purely civilian purposes.
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- firstname.lastname@example.orgI just know gas prices are going to go up19:41, 06/01/2012As tensions rise so do gasoline prices in the west. It is going to be an expensive January and spring to drive the car.
I do not need to add any more as war seems inevitable between Iran, the US and Israel.
- mrgenieYup13:24, 07/01/2012Can only hope it'll be quick with a minimum of civilian casualties.. I hope the Arab countries stay out of it, because if they also go to war with Iran, we'll have troubles for the next centuries to come. (on top of the hatred that's already between the Arabs and the Persians)
Definitely not good.
- email@example.comRussia to benefit from United States oil sanctions against Iran07:37, 07/01/2012The price of oil is definitely not going to drop in 2012.
The United States oil sanctions will proceed successfully against Iran and all European countries who now depend on Iran for oil will need to find another supplier.
The United States doesn't loose a barrel of oil because they do not import Iranian oil. Convenient for the United States, not convenient for Europe.
Russia is looking very good as oil rises to $175 a barrel.
China and India completely ignore the United States oil sanctions on Iran and increase their share of Iranian oil by 50% for China and 22% for India. If the United States retaliates against China and India both countries simply stop all exports to the United States. The United States economy implodes without Chinese and imports and the flood of Chinese money to purchase US Federal Bonds that are worthless any.
However you look at the United States oil sanctions against Iran, the United States is in a LOOSE LOOSE situation. If European countries want to go down with the Titanic (the United States) be my guest support the Iranian oil sanctions, otherwise let the United States sink of its own accord.
Europe gets nothing out of the Iranian oil sanctions and actually loose their source of oil supplies. Talk about destroying your own economy intentionally!
Iran completely ticked off by the European support for the economic oil sanctions refuse to sell European countries another barrel of oil.
European countries are now 100% dependent on Russian and Libyan oil exports.
Needless to say Russia won't sell a drop of oil for under $175 to $200 a barrel. This is to make up for all of the lost Libyan contracts that cost them billions of dollars in the 2011 Libyan conflict.
What goes around comes around. :))
Russia, China and India support Iran and discourage any United States military action depriving the United States of an additional 2.6 million barrels of oil a day they will need to run their economy by 2020, assuming they could have successfully taken control of Iran's oil and natural gas reserves.
Basic oil figures.
The United States consumes 18.7 million barrels of oil a day.
The United States produces 9 million barrels of oil a day.
The United States imports 9.7 million barrels of oil a day.
The United States domestic oil reserves run out in 2019.
By the year 2020 the United States is in economic collapse if it cannot find another 9 to 11.3 million barrels of oil a day to import after its own domestic reserves run out.
Iran produces 3.8 million barrels of oil a day of which it exports 2.6 million barrels of oil a day. Exports that evenly split between Europe and China.
This is 2.6 million barrels of oil a day that the United States will desperately need to be able to try and import an additional 9.7 to 11 million barrels of oil a day by 2020 when its own domestic oil reserves run out in 2019.
- mrgenieEhm.. stick to the facts15:45, 07/01/2012EU imports 4.39% of it's oil from Iran. http://ec.europa.eu/energy/observatory/oil/doc/import/coi/eu-coi-from-extra-eu-2011-01-03.pdf
The import makes about 53% of the total energy demand. http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Energy_production_and_imports
So a total 100% of Iranian oil would mean Europe to loose about 2.5% of their Energy supply. The reserves in Europe are large enough to compensate this loss for a period of 6 years (if no other suppliers are found) Which is no problem really as many nations (on the front-line many Arab nations) already stated they'll increase their deliveries to EU.
However, countries like China, Japan and most of Asia are more depending on Iran. If Iran indeed declares war on Oil tankers from Saudi Arabia, Russia, China, Japan .. I'm pretty sure Iran will loose it's friend real fast. As you falsely stated:"Iran is a friend of Russia" it is 100% not. The enemy of my enemy is my friend is all the glue between Russia and Iran. Iran has supported many rebels in Southern Russia. Many weapons killing Russian soldiers originated from Iran. If Russians like their soldiers getting killed, then they might love Iran and be real friends, but I doubt Russians are so stupid as you claim they are. Russians are mostly very smart people and don't forget such things easily. The support Iran gave Chechen warriors won't be forgotten!
And if the next level is Iran targeting tankers.. Many Russian companies moved into Iraq after Saddam got flushed down the toilet. You really think if these companies are loosing billions because Iran taking down their transport lines, Russia will support Iran on it? Very naive if you ask me. Many big companies and countries are involved in that part of the Earth.. If Iran really wants to attack and block every single tanker down there, they'll get as many enemies as countries exist on this planet!
Not to mention, Japan and China most likely find alternatives as well. Definitely not as easy as EU will find compensation for the 2% loss, but they will compensate. But yes, prices will rise! Not so much because of Iran though! Prices on Oil will rise even if the whole world would be at peace. We're running dry on oil soon. Russia has not many more reserves left until their Oil-Peak is reached.. So for a while rising prices might compensate the lower output, but before 2030 Russia will face a decline of Petrodollar even if prices rise, simply because 1) they're running out 2) after 200 USD/Barrel every single green energy will be cheaper, thus the world switching from Oil based economy to a green economy..
Until we get there, a few more economical and industrial crisis will happen though. It won't be a soft transition. But it will happen, because regardless of Iranian, Saudi, Russian oil, or what's left under the North pole, we're running out of oil.
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