EU Adopts Oil Embargo on Iran (and vid)
http://rt.com/news/iran-eu-sanctions-oil-419/
"Iran has already responded to EU sanctions by renewing its threat to block the Strait of Hormuz. A senior Iranian official said Iran would 'definintely' close the vital transit route. The EU embargo follows tough US sanctions approved earlier this month. Taken together, they remove 2.6 billion barrels of oil from international markets, driving oil prices up and adding to global economic instability.."