STOCK MARKET WATCH - Thursday, 5 January 2012

[Demeter]

66. Iran prepares bill to bar foreign warships from Persian Gulf

http://www.washingtonpost.com/world/middle_east/iran-prepares-bill-to-bar-foreign-warships-from-persian-gulf/2012/01/04/gIQAhlWYaP_story.html?wprss=rss_national-security

Iran’s parliament said Wednesday that it was preparing a bill that would prohibit all foreign warships from entering the Persian Gulf unless they received permission from the Iranian navy.

The bill, disclosed by the semiofficial Fars News Agency, surfaced a day after Iran’s armed forces commander warned a U.S. nuclear-powered aircraft carrier not to return to the gulf, remarks that rattled commodities markets and helped drive up oil prices.

The proposed legislation suggested that at least some Iranian officials are serious about trying to stop the U.S. Navy from entering the oil-rich gulf waters. Iranian analysts said that the bill probably would not have been introduced if it were not supported by higher authorities.

“If the military vessels and warships of any country want to pass via the Strait of Hormuz without coordination and permission of Iran’s navy forces, they should be stopped by the Iranian armed forces,” Fars quoted lawmaker Nader Qazipour as saying in explaining the bill. He noted that Iran regards the strait as part of its territorial waters and said the bill would be presented to leaders in parliament next week...