Iran’s nuclear push is rapidly turning into a game of chicken with the world’s economy.

Faced with the threat of growing international sanctions and unprecedented economic uncertainty that has seen the value of its currency halved in recent weeks, Iran announced Thursday its navy will stage a 10-day exercise in the Strait of Hormuz, starting Saturday.

The move, which increases the risk of military confrontation with the United States, has the potential to temporarily choke off oil exports from the Middle East, drive up international energy prices and damage the global economy.

“Iran’s military and Revolutionary Guards can close the Strait of Hormuz. But such a decision should be made by top establishment leaders,” he said.

Originally posted by Skewed
As long as they keep a distance and do not inadvertently fire any shots over our bows things should be fine. There will probably be a few subs in the area keeping an eye on things.

OTTAWA - Foreign Affairs Minister John Baird says a planned 10-day military exercise by the Iranian navy on international waters near the mouth of the Persian Gulf is an act of provocation.

The exercise will take Iranian ships in proximity to U.S. vessels patrolling the area beyond the Strait of Hormuz. The area is a key shipping lane for oil and other products.