While the UN Security Council is in emergency session to deal with Libya it should also take steps to prevent Iran from transitting the Suez Canal in the future. Existing treaties should be amended to prevent passage of any ship belonging to or working for a member of the "Axis of Evil" without a through inspection. Currently that would be Iran, Iraq, and North Korea. It may also be possible to exclude warships of countries involved in or sponsoring hostile activities in violation of UNSC resolutions (Hezbollah and Hamas). Another way might be to make the cost so high by adding security fees or insurance to belligerent countries that they will decline voluntarily. Double or triple the cost.
U.S. weighs sanctioning Russia as well as China in cyber attacks (Reuters)
from the article: Iran is celebrating Mubarak downfall with Suez crossing