Current event: Iran refuses to give out oil.

The title gives it away. Iran, in an attempt to get back on the EU for cutting iranian oil imports, refused to provide GB and France with oil. The funny part is that niether Great Britain nor France really depend on iranian oil very much. Due to this, iran is trying to get Tehran to do the same. Basically they want to make sure that they will still have a market in the EU. The best way to do that is to cut off those countries who don't support the oil industry in the middle east. I think that Iran's act was futile in the short run. Neither countries really need that oil, But in the long run, I think that such acts could make a huge difference. The EU should definetely tread carefully.

http://www.nytimes.com/2012/02/20/world/middleeast/iran-halts-oil-shipments-to-britain-and-france.html?_r=1&hp