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Tense Iran Test-Fires New Missiles EBRAHIM NOROOZI / Getty Images

Iran Test-Fires New Missiles

Iran isn't backing down. The country announced Monday that it successfully test-fired two long-range missiles in the Gulf that could hit Israel and U.S. bases. Yesterday Iran claimed that its scientists had produced the nation's first nuclear fuel rod, a major step forward in the country's nuclear program, and one that came as a surprise to the West. The military drills and nuclear announcements come shortly after Iran warned it could shut the Strait of Hormuz if sanctions were placed on its oil exports.

January 2, 2012 6:26 AM