4th July 2012
Iran on 3 July 2012, test-fired a medium range ballistic missile Shahab-3. The Shahab-3 has a range of up to 2000 kilometres. The Shahab-1 and Shahab-2, the two short-range missiles, with ranges of 300 to 500 kilometres, were also launched.
The missile launch was the part of Iran’s Great Prophet 7 exercise. Great Prophet 7 exercise was announced by Iran on 1 July 2012 in the wake of latest European Union sanctions on Iran. The exercise, which involved test of dozens of missiles and domestically-built drones came following European Union’s decision to ban the purchase of Iranian crude oil. The EU's decision is the clear repurcussion of failed dialogue held between Iran and world powers on Iran’s ambitious nuclear programme.
The world powers including United States, Russia, China, Britain, France and Germany, the Western powers had held three round of dialogues with Iran to persuade it to halt its nuclear programme. With all the three dialogues did not meet their desired end, the world powers including the European Union chose to impose a strict ban against the purchase of Iranian crude oil.
Iran is the fifth largest oil producer in the world and the EU ban on Iranian oil imports will badly hurt its already floundering economy. The sanctions, which have been imposed to make Iran reconsider its nuclear development plan, will not only deprive Iran of European market that makes 18 percent of its exports but also bar EU companies from transporting Iranian crude or insuring shipments, hurting its trade worldwide.
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