Updated: Jan. 4, 2012 at 10:06 AM
War games in the Strait of Hormuz (8 images)
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.
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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An Iranian navy boat fires a missile during an Iranian military exercise on the Sea of Oman, near the Strait of Hormuz in southern Iran on December 30,2011. Iran has threatened to close the strategic oil waterway if sanctions are imposed on Iran for its nuclear ambitions. The U.S. Fifth Fleet, which is based in the area, said any attempted closing would not be tolerated. UPI/Ali Mohammadi/IIPA
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An Iranian navy vessel fires a home-made surface to air short range missile named "Mehrab" during an Iranian military exercise on the Sea of Oman near the Strait of Hormuz in southern Iran on Jan 01,2012. UPI/Ali Mohammadi
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Iranian navy speed boats take part in an Iranian military exercise on the Sea of Oman, near the Strait of Hormuz in southern Iran on December 30,2011. Iran has threatened to close the strategic oil waterway if sanctions are imposed on Iran for its nuclear ambitions. The U.S. Fifth Fleet, which is based in the area, said any attempted closing would not be tolerated. UPI/Ali Mohammadi/IIPA
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