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Iran has repeatedly threatened it will close the Strait of Hormuz waterway, through which one-fifth of the world's oil supplies pass every day, if new oil sanctions are imposed on Tehran for it's nuclear ambitions. Iran, the world's No. 3 energy exporter, relies on oil exports to finance as much as half its national budget.
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A picture released by Fars News Agency on December 29, 2011, shows a U.S aircraft carrier spotted in an area of the Iranian navy ongoing maneuver zone on the Sea of Oman, near the Strait of Hormuz in southern Iran. UPI/ Abdollah Arab Koohsar/Fars News
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