RENEE MONTAGNE, HOST:
NPR's business news begins with a letter to Iran.
STEVE INSKEEP, HOST:
Iran has reportedly acknowledged receiving a letter from the U.S. about the Strait of Hormuz. Iran has threatened to close off that waterway, a main route for oil tankers, if sanctions are imposed against the country's oil sales. An Iranian news agency says the letter is being studied and the government is determining whether to respond.
MONTAGNE: Along with possible U.S. sanctions, European leaders are meeting later this month to consider blocking purchase of oil from Iran. Transcript provided by NPR, Copyright NPR.