Iran begins the new year with a bang

Iran started off the new year with a bang on Sunday formally announcing that its scientists had produced the country's first nuclear fuel rod and that the Iranian navy has test-fired a new medium-range missile that is designed to evade radar.

Iranian state television reported that the nuclear fuel rod had been inserted into the core of Tehran's research reactor, where Iran's most highly enriched uranium is stored. Many in the West had previously thought Iran was incapable of producing a nuclear fuel rod.

Iranian naval commander, Mahmoud Mousavi, said the new "medium-range, surface-to-air missile [named Mehrab, or Altar] is equipped with the latest technology to combat radar-evading targets and intelligent systems which try to disrupt missile navigation."

The missile was tested in international waters near the Strait of Hormuz, the passageway for a significant portion of the world's oil supply.

Nice to see Iran starting off the year with a real bang....