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Wednesday, December 28, 2011

Iran threatens to stop Gulf oil if sanctions widened

TEHRAN: Iran has threatened to stop the flow of oil through the Strait of Hormuz if foreign sanctions were imposed on its crude exports over its nuclear ambitions, a move that could trigger military conflict with economies dependent on Gulf oil.

Sanctions will not succeed in stopping Iran's nuclear progress, its president said major powers said they had "serious and constructive" talks about new UN punitive measures.