AOL.com Video - European Union Hits Iran with New Oil Embargo

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European Union Hits Iran with New Oil Embargo

Description:Iranian lawmakers renewed threats today to blockade the Strait of Hormuz after the European Union banned imports of oil from the Islamic state. Iran will "definitely" close the Strait of Hormuz if the embargos put into place by the EU disrupt the export of crude oil. The EU formally adopted embargos against Iran early today in an effort to pressure the country into halting their nuclear program and resume talks with the EU about it. (2:07)

Source: IBTimesTV

Tags: European Union Hits Iran with New Oil Embargo , ibtimes tv , british foreign secretary willian hague , embargo