EU threatens sanctions on Iran oil

The European Union plans to impose new sanctions against Tehran over its nuclear program despite Iran's warning to close the strategic Strait of Hormuz, an EU spokesman says. "The European Union is considering another set of sanctions against Iran and we continue to do that," said Michael Mann, the spokesman for the EU's Foreign Affairs Chief Catherine Ashton on Wednesday. He noted that the decision would be taken in the next meeting of EU foreign ministers in Brussels on January 30, 2012. The EU foreign ministers failed in their attempts to enforce an embargo on Iran's oil exports during a December 1 meeting in Brussels. The anti-Iran move by the EU came after the United States, Britain, and Canada imposed unilateral sanctions on the Islamic Republic's energy and financial sectors over Tehran's nuclear program. Iran's First Vice President Mohammad-Reza Rahimi warned on December 27 that imposing sanctions against the country's energy sector will prompt Tehran to prevent oil cargoes from passing through the strategic Strait of Hormuz. “If they impose sanctions on Iran's oil, not even a drop of oil will be allowed through the Strait of Hormuz,” he added. Iran's Navy Commander Rear Admiral Habibollah Sayyari also announced on Wednesday the country's naval forces can readily block the strategic Strait of Hormuz if need be. The US, Israel, and their allies accuse Iran of pursuing a military nuclear program and have used this allegation as a pretext to convince the UN Security Council to impose four rounds of sanctions on the Islamic Republic. Iran has refuted the allegations, arguing that as a signatory to the Nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to develop and acquire nuclear technology for peaceful purposes.