Iran started a large-scale military exercised in the Strait of Hormuz early this morning, testing new missiles, called “Great Prophet 5.” This display is an expected response to U.S. led economic sanctions on the nation. A Tehran military spokesman said the exercises were aimed at showing Iran’s "strength, will and national resolve to defend independence and territorial integrity."
The Strait of Hormuz is a strategic transit route for about 20% of the world’s daily oil supply. Iranian commanders have threatened to block the Strait in retaliation from any attack. Oil prices were not affected by the announcement. Some analysts worry that Iranian Navy ships will provoke U.S. ships that frequently patrol the Persian Gulf.
In recent days, Iranian negotiators proposed a new draft to the U.N. about nuclear use, but the problem with the draft was that Iranian leadership never backed it. New sanctions have been slow on both ends with China seeming uninterested by U.S. proposals. It seems that Iran is also out attempting to court and diffuse the sanctions by appealing to non-permanent U.N. members, which could weaken any new sanctions.
The Strait of Hormuz is a strategic transit route for about 20% of the world’s daily oil supply. Iranian commanders have threatened to block the Strait in retaliation from any attack. Oil prices were not affected by the announcement. Some analysts worry that Iranian Navy ships will provoke U.S. ships that frequently patrol the Persian Gulf.
In recent days, Iranian negotiators proposed a new draft to the U.N. about nuclear use, but the problem with the draft was that Iranian leadership never backed it. New sanctions have been slow on both ends with China seeming uninterested by U.S. proposals. It seems that Iran is also out attempting to court and diffuse the sanctions by appealing to non-permanent U.N. members, which could weaken any new sanctions.
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