Iran’s self-defeating saber-rattling
New York Post / Amir Taheri
02-Jan-2012 (one comment)

A month after “Supreme Guide” Ali Khamenei warned that his Islamic Republic was ready for war, Iran has provided a glimpse of how it envisions a clash with America in the form of a 10-day aero-naval exercise — including long-range missile tests yesterday — aimed at closing the strategic Strait of Hormuz, which connects the Persian Gulf to the Gulf of Oman and the Indian Ocean.

Tehran, hoping to use oil as a weapon, has declared that any attempt at banning its petroleum exports would lead to a closure of the strait.

“If we cannot export oil, not a drop will be allowed to be exported by anyone else,” says Muhammad Reza Rahimi, Iran’s first assistant president.

Read more: //www.nypost.com/p/news/opinion/opedcolumnists/iran_self_defeating_saber_rattling_cdP8ly3jd6LNYwrVaX69HK#ixzz1iMaVzLei

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by yolanda on Mon Jan 02, 2012 07:52 PM PST

 Highlights:

"Mahmoud Bahmani, the governor of the Central Bank of Iran, says Tehran has currency reserves for up to six months and could ensure essential imports for up to two years. Nevertheless, he describes the planned sanctions as “a declaration of war.”

Iran’s national currency, the rial, is already in free fall, having lost almost half of its value in a month.

“We will stop the flow of oil, crippling the global economy,” writes the Iranian daily Kayhan. “When the price of oil hits $200 or £400 a barrel, we shall see who are the losers.”

However, by March, Arab exporters will be using pipelines connecting them with the Arabian Sea through the emirate of Fujairah, bypassing Hormuz. Because the strait is the only route for its oil exports, Iran could end up the principal loser."


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