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December 28, 2011

Iran Threatens to Block Oil Passage if U.S. Enacts Sanctions 
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Iran is vowing to block a key passage for the world's oil supplies if
the U.S. proceeds with new economic sanctions. On Tuesday, a top Iranian
official said Iran would close off the Strait of Hormuz if the United
States fully implements a measure that would sanction Iran's oil
exports, a major source of Iranian government revenue. About one-fifth
of the world's oil is said to pass through the Strait. The sanctions
were passed as part of a Congressional measure targeting Iran for its
alleged nuclear activities and now await President Obama's signature.



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