An Iranian Army soldier stands guard on

An Iranian Army soldier stands guard on a military speed boat, passing by a submarine during the "Velayat-90" navy exercises in the Strait of Hormuz in southern Iran on December 28, 2011 as Iran started 10 days of naval drills from December 24, covering east of Strait of Hormuz and the Gulf of Oman to the Gulf of Aden. The Strait of Hormuz, which Iran has threatened to block if the West applies sanctions on its oil exports, is a strategically important waterway through which 40 percent of the world's seaborne oil transits. AFP PHOTO/IIPA/ALI MOHAMMADI (Photo credit should read ALI MOHAMMADI/AFP via Getty Images)