Iran has successfully test-fired two long-range missiles on the last day of major naval exercises in the international waters of the Persian Gulf. This comes amid mounting Western pressure on the country over its nuclear ambitions. Tehran says it's ready to counter any attack by enemies like Israel or the United States. Iran has also angrily reacted to new U.S. sanctions targeting its central bank and financial sector. It has been threatening to close the Strait of Hormuz - the world's most important oil export route linking the Persian Gulf to the Indian Ocean. Meanwhile the EU is mulling an embargo on the purchase of Iranian oil, and a decision on that is expected before the end of the month. The Director of the Beirut-based centre for Middle East Studies, Dr Hisham Jaber, believes the West's actions are adding fuel to an already highly flammable situation.