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July 17th, 2012 
FAKE NEWS for the Zionist agenda Brent crude was up 69 cents to USD 103.09 a barrel Monday, while US oil rose 8 cents to USD 87.18 a barrel, Reuters reported.
Iran’s Majlis is preparing a motion according to which the Islamic Republic would close the vital passageway for as long as the sanctions against Tehran are in effect.
On Sunday, Iranian Lawmaker Javad Karimi Qodousi said the motion had been signed by 150 parliamentarians.
Commander of Islamic Revolution Guard Corps (IRGC) Navy Ali Fadavi said Saturday Iran has the ability to close the strait and has proved its capability during the eight years of imposed war with Iraq (1980-1988).
The Strait of Hormuz is a narrow waterway which connects the Persian Gulf on the west to the Sea of Oman.
Statistically, the waterway is one of the world’s most important shipping lanes, with a daily flow of about 15 million barrels of oil.
Under US pressure, the European Union (EU) implemented its sanctions against Iran’s oil and financial sectors on July 1.
The sanctions prevent all EU member states from purchasing Iran’s oil or extending insurance coverage for tankers carrying the Iranian crude.
Washington has also approved sanctions on Iranian oil, which penalize other countries for buying or selling the country’s crude. The US embargoes entered into effect on June 28.
The US-led bans are meant to pressure the Islamic Republic over its nuclear energy program, which Washington, Israel and some of their allies claim may include a military aspect.
Iran dismisses such allegations, arguing that as a committed signatory to the nuclear Non Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use the nuclear technology for peaceful purposes.
HMV/AZ
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