It is doubtful that the West will impose sanctions on oil exports from Iran. The world, in these hard economic times, does not need oil shortages and high oil prices, and the US does not need another useless war as in Iraq which will perhaps push it over into bankruptcy. Sanctions on Iran will cause the Iranians to reduce oil flow in the Gulf, and even stop it completely if they can. The attempt will force the US to start a ground war to take over Iranian territory overlooking the Straits of Hormuz. Seems like another Baghdad tale, and there is no telling how it will end, except that it will be bad for all.
Suspect Bangkok bomber arrested, found with possible bomb-making materials (Reuters)
from the article: Iran official: U.S. cannot stop us from cutting off world oil supply