Chabahar Port
Chabahar Port () is a seaport in Chabahar located in southeastern Iran, on the Gulf of Oman. It serves as Iran's only oceanic port, and consists of two separate ports named "Shahid Kalantari" and "Shahid Beheshti", each of which has five berths.
Iran–European Union relations
On 23 January 2012, the Council of the European Union released a report in which it restated its concerns about the growth and nature of Iran's nuclear programme. As a result, the Council announced that it would levy an embargo on Iranian oil exports. Further, it stated that it would also freeze assets held by the Central Bank of Iran and forestall the trading of precious metals and petrochemicals to and from the country. This replaces and updates the previous Council Regulation 423/2007 that was published on 27 July 2010. The new sanctions put restrictions on foreign trade, financial services, energy sectors and technologies and includes a ban on the provision of insurance and reinsurance by EU insurers to the State of Iran and Iranian owned companies.
Iran has since declared its intentions to close the Strait of Hormuz should the embargo be enacted. At the time, the European Union accounted for 20% of Iran's oil exports, with the majority of the remaining being exported to Asian countries such as China, Japan, India, and South Korea. 
Current oil contracts will be allowed to run until July 2012.