Iran is going to close the Strait of Hormuz

By Curious

Iranian lawmakers have in mind to close the Strait of Hormuz for oil tankers going to nations supporting economic sanctions against the country.
"There is a bill ready in the National Security and Foreign Policy committee of Parliament that accent om blocking of vessel traffic carrying oil to nations that have sanctioned Iran," Iranian MP Ibrahim Agha-Mohammadi announced reporters.
This was a result of European Union sanction against Iran earlier.
The Strait of Hormuz is very important for the oil transport in the region. 17 million barrels a day sailed in 2011 have grown in the past year as US and European sanctions aimed at starving Tehran of funds for its nuclear programme have tightened.
This is about 35% of all seaborne traded oil, or 20 per cent of all oil traded in the world.
The most of the oil 85 per cent of is transported to East Asia heading to China, India, South Korea and Japan.
Some Arab countries are seeking different routes for its oil exports.