I am not sure how serious this possibility is as of now, but it could become more serious in the future. I see no way out of the current deadlock, sanctions/war threats, without a major change in Iran or US. Iran can continue to survive in the current conditions, but even that may be in doubt if...
Europe moves toward oil embargo against Iran - World Watch - CBS News
While Iran and the U.S. talk tough over naval activity in the Persian Gulf, European Union leaders have decided to join the U.S. in imposing increasingly harsh sanctions against the Islamic republic over what many assume is a...