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Revenue come from the crude oil sales. they are trying do you think the sanctions have a chance of altering tehran s nuclear behavior? no. they may increase the cost for iran to do business internationally. that s a good thing. i certainly support that but as long as countries like russia and china are prepared to assist iran in evading international sanctions, china is a huge purchaser of iranian oil, ultimately the sanctions will not have a significant effect. gregg: if iran tried to shut down the strait of hormuz would it lose critical support from china and russia or are they always going to support iran no matter what? that is why i think this is mostly bluff on iran s part because neither china nor russia really want to see that kind of disruption. from russia s point of view the higher price goes internationally as oil exporting country the more they benefit too. gregg: would armed confrontation or even threat of it spike oil prices and ....
Intelligence correspondent catherine herridge is here this morning. reporter: they are putting the administration iraq strategy under the microscope. three key factors are at play. the damning report from the international atomic energy agency that iran continues to advance the nuclear weapons program. the plan to assassinate the envoy to washington, d.c. and the attacks this week on british embassy in tehran. the specifically the iran issued explained why he believes the new tougher financial sanctions on the iranian central bank cut off iran from the u.s., canadian and british economies. iran is cut off entirely from three of the world s largest financial sectors. and our efforts are paying off. iran is now facing unprecedented levels of financial and commercial isolation. reporter: a top state department official on the issue hinted strongly iran s crude oil sales are next. sanctions are also more effective when they are ....