Iran threatens oil

Iran's President Hassan Rouhani threatens to cut off Gulf oil

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"Iran's missile programme is defensive in nature... There is no Security Council resolution prohibiting the missile programme and missile tests by Iran," IRNA quoted Foreign Ministry spokesman Bahram Qasemi as saying.

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Iran threatened to shut down the Strait of Hormuz in 2011 and 2012, as President Barack Obama marshaled support for international sanctions on Iran over its alleged research into nuclear weapons development.

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Iranian President Hassan Rouhani threatened on Tuesday to close the strait of Hormuz, the world's busiest sea lane for oil shipments, if the United States moves to block the Islamic Republic's oil exports.

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It is a grave and escalating threat, and nations around the world, not just Europe, need to do everything they can to be targeting Iran's missile programme Pompeo, who also met with Israeli Prime Minister Binyamin Netanyahu in Brussels on the fringes of a NATO summit on Monday, said the test violated UN Security Council Resolution 2231, which endorsed the Iran nuclear deal signed by world powers with the Islamic republic.

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He said the government would maintain subsidies on essential goods and increase public sector wages and pensions by 20 percent.On Monday, the United States urged the European Union to apply sanctions targeting Iran's ballistic missile programme, calling it a "grave and escalating threat".

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TEHRAN: Iran's President Hassan Rouhani struck aon Tuesday, renewing his threat to cut off international oil sales from the Gulf.

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Iran’s Rouhani renews threat to blockade Gulf oil shipments

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People should stop saying such things in the papers," he told the crowd.The latest inflation report from Iran's central bank says food prices rose 56 per cent year-on-year in October.Rouhani acknowledged there were "some problems", but said these would be addressed in the new budget plan to be presented on December 16.

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Kilduff points out that the closing of the strait wouldn't just harm global oil industry but, would hurt Iran itself," it's not in their best interest to do it, even though they are getting hammered now with sanctions, it could do long term harm to Iran."

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"We would like to see the European Union move sanctions that target Iran's missile programme," Hook told reporters aboard Pompeo's plane as he travelled to Brussels.

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"America should know... it is not capable of preventing the export of Iran's oil," Rouhani said at a televised rally in Semnan province.

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"If it ever tries to do so... no oil will be exported from the Persian Gulf," he added.Since the 1980s, Iran has said repeatedly it would blockade the Gulf in response to international pressure but has never carried out the threat.Washington has reimposed sanctions, including an oil embargo, since withdrawing from a landmark 2015 nuclear deal between Tehran and major powers in May.It has vowed to reduce Iran's oil sales to zero, but has granted temporary waivers to eight countries.Rouhani last threatened to close the Gulf in July when he warned the US "should not play with the lion's tail.

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Tehran's foreign ministry said its missile arsenal did not break international law, despite the US slapping more sanctions on Iran over the programme.

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In an interview with Iranian State TV President Hassan Rouhani was quoted as saying: "if someday, the United States decides to block Iran's oil [exports], no oil will be exported from the Persian Gulf."

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"The president downplayed the economic impact of sanctions, accusing the media of exaggerating the country's problems.

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