Question: On January 15th 2012 Mohammed Ali Khateebi, Iran's envoy to OPEC warned the Gulf states against compensating for Iran's oil by supplying additional crude oil to international markets in case sanctions are imposed on Iran by the European Union. The Iranian Sharq newspaper also reported that Khateebi warned that such compensatory supplies will evoke Iran's reaction which will be unpredictable. Similarly the spokesman for Iran's ministry of petroleum, Ramin Mehmanparast reiterated his remarks reported by Iran's official news agency confirming that the United States had sent a letter to Iran about the Straits of Hormuz. In late December 2011, Iran had warned of closing the Hormuz waterway in reaction to international sanctions. Iran had also announced holding naval exercises in the region. It also said that it had carried out successful tests on missiles of various types and ranges. So, is Iran serious about closing the Straits of Hormuz? Is
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