This political cartoon is talking about the embargo which European countries, as well as the United States, are considering to put in place against Iran, due to Iran's continuation of its nuclear program.
The gulf is being portayed as an old man with a crooked nose. This shows the ancientness of the Persian Gulf. Also, the Turban shows the Arabian nature of the countries surrounding the gulf. In a way, the old man represents the single ruler monarchies in many of the Gulf countries which still exist today, grounded and insulated with their power.
The other of this cartoon is trying to covey the tricky nature of an oil embargo on the Iran. The entire Persian gulf is accessed through one small opening (Strait of Hormuz), which Iran is threatening to block.
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