July 2, 2012
Following a European Union embargo on Iranian oil imports that came into effect on Sunday, the Iranian parliament today drafted a bill to block oil shipments to countries cooperating in punitive sanctions against the country.
Around 17 million barrels of oil from Saudi Arabia, the United Arab Emirates, Kuwait and Iraq move through the Strait of Hormuz every day.
“There is a bill prepared in the National Security and Foreign Policy committee of Parliament that stresses the blocking of oil tanker traffic carrying oil to countries that have sanctioned Iran,” Iranian MP Ibrahim Agha-Mohammadi told reporters. “This bill has been developed as an answer to the European Union’s oil sanctions against the Islamic Republic of Iran.”
The move appears to be largely symbolic. Iran’s parliament does not hold much power and legislation rarely advances without the support of the 12-member Council of Guardians comprised of Muslim clerics and lawyers.
- Iran Threatens to Block Tankers in Response to Oil Import Embargo (newsworldwide.wordpress.com)
- Iran Threatens to Block Tankers in Response to Oil Import Embargo (pakalertpress.com)
- Iran tests missiles, renews Hormuz closure threat as EU oil embargo kicks in – CBS News (cbsnews.com)
- Iran Drafts Bill to Block Straits of Hormuz Following Embargo (gcaptain.com)
- Iran seeks “win-win” on nuke talks (cbsnews.com)
- Iran MPs seek to shut Hormuz for EU-bound tankers (dailystar.com.lb)
- EU oil embargo on Iran comes into effect (thehimalayantimes.com)
- Iran Braces for EU Embargo (voanews.com)
- The oil embargo on Iran would go this Sunday, but the country has found a way to circumvent the embargo (investmentwatchblog.com)
- EU oil embargo on Iran takes effect. Gulf braced for backlash, Hormuz closure (warsclerotic.wordpress.com)