Well, what would you expect. Iranian lawmakers are preparing a bill to blockade the Straits of Hormuz for tankers destined to countries that have taken sanctions against Iran. The EU is blocking all oil contracts with Iran from next sunday. Just when oil prices had dropped, it looks now like they will go through the roof if this comes to pass.The big question then is how does the West respond, War?

A member of the Iranian parliament (Majlis) said that Iran will close the Hormuz Strait if the economic sanctions against the Islamic Republic take effect.

Arsalan Fathipour in an interview with Alalam News Network said that the recent oil price fall will not last for long.

“We take the control of the Hormuz Strait. If we are supposed to be sanctioned, we will not allow a drop of oil to pass through the strait,” he said, Fars News Agency reported.

“In such a situation, oil price will surge and we will see that those who have imposed sanctions will not be able to be accountable for their people,” he noted.

He noted that Iran can find new customers for oil.

Iran has stored up imports and hard currency for a “battle” against EU sanctions, officials said on Sunday, the day that the measures aimed at pressuring the Islamic Republic over its nuclear program take effect.

Vice President Mohammad Reza Rahimi said the country has stockpiled the population’s daily needs to reduce the impact of the embargo hitting the oil and banking sectors.

Source: en.trend.az