No Iranian Oil Weapon?
Iran's Oil Minister, Kazem Vaziri Hamaneh, declared today that Iran would 'never' use oil as an economic weapon. "OPEC and Iran are committed to ensuring oil supplies," he said.
Iran's oil minister on Wednesday denounced suggestions that his country might use oil as an economic weapon as "baseless," reaffirming Teheran's commitment to supplying crude markets despite its standoff with the West over its suspect nuclear program.
Oh really? Someone please tell Iran's chief nuclear negotiator, Ari Larijani, who said of the prospect of sanctions, "Do not force us to do something that will make people shiver in the cold."
The fact of the matter is that for Iran to cut off oil supplies - by either cutting/curtailing export or shutting the Strait of Hormuz - would be far more injurious to themselves than any sanctions leveled by the UN Security Council or an American 'Coalition of the Willing.'
So don't read Hamaneh's declaration of being "committed" as generous or benevolent Iranian concern for global economies. It's basic economics. The day Hormuz gets blocked is the day Iran begins to choke on their own bankruptcy....far sooner than any 'Western' nations.