No need to block the Strait of Hormuz. European politicians have decided not to buy Iranian oil anymore (from July 1st onwards) and Iran’s majlis, or parliament, is considering to not to sell oil to the European Union anymore (from now on).
It’s about how to shoot oneself into the foot. Greece, Italy and others are going to suffer, Iran won’t. Oil can (and should) be sold to anyone else.
Last update January 26, 2012.