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The Forum > Article Comments > Will Iran block the Hormuz Strait > Comments

Will Iran block the Hormuz Strait : Comments

By Ali Omidi, published 21/12/2011

It could be quite legal for Iran to block the Straits of Hormuz, blocking 40 percent of oil supplies.

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Iran Blinks;
Obama has signed into law the restrictions on Iran.
Iran has asked the EU commission to call a meeting of Russia, China,
France, Britain and US.

The IAEA has published its reasons for concern about Iran's nuclear program.

http://www.bbc.co.uk/news/world-middle-east-15648166
Posted by Bazz, Sunday, 1 January 2012 9:49:16 AM
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To understand what is really going on here you need to remember that the regime is both inept and corrupt.

See for example:

Iran Regime Profiting From Currency Decline, U.S. Treasury Says

http://www.bloomberg.com/news/2011-12-27/u-s-says-iran-elite-profiting-from-currency-plunge-triggered-by-sanctions.html

>>The Obama administration is accusing the elite of Iran’s regime and the Islamic Revolutionary Guard Corps of profiting “on the back of the average Iranian” as the nation’s currency plunges under pressure from international sanctions.

The new allegation coincides with the decline in the market value of the Iranian rial, which has dropped about 15 percent against the dollar in the past five weeks and 35 percent since March, according to Tehran’s independent Donya-e-Eqtesad newspaper. The 39 percent difference between the central bank’s official rate and market rates on Dec. 21 was the largest in almost two decades, economists in Tehran and Washington said in interviews.

U.S. Treasury Undersecretary David Cohen said the gap between the two rates has provided an arbitrage opportunity exploited by officials and businesses affiliated with the IRGC, the elite military arm that’s under international sanctions for suspected nuclear weapons work and terrorism. They are among regime elements able to obtain foreign currency at the favorable official exchange rate and sell it for a profit in exchange bureaus at the market rate, he told the Senate Foreign Relations Committee in written testimony Dec. 1.>>

Do these crooks appear suicidal to you?

Or do they look like people who want to keep their scames going for as long as possible?
Posted by stevenlmeyer, Sunday, 1 January 2012 10:03:35 AM
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