BLOOMBERG -- The European Parliament urged Iran to back down from threats to block shipping in the Strait of Hormuz, saying the disruption to trade could stoke international tensions.
"Such an act could lead to a regional conflict and trigger retaliation by the international community," the 27-nation European Union assembly said in a resolution approved today in Brussels.
Iran has threatened to shut down the Strait of Hormuz, through which about a fifth of globally traded oil passes, as the EU prepares to ban imports of Iranian petroleum starting on July 1. The European plan, approved by EU governments last month, stems from concerns that Iran is seeking to develop nuclear weapons.
The EU Parliament said the oil embargo could help persuade the Iranian government "to accept and respect" United Nations resolutions on the country's nuclear activities. The Iranian regime says its atomic program is for civilian purposes including electricity production.
In its resolution, the 754-seat EU Parliament also said it "regrets" the refusal of China and Russia in the UN Security Council to back sanctions against Iran.
