Strait of Hormuz crisis and the illegal US naval blockade

The US economy is being hit hard by the war against Iran, with rising transport, manufacturing, and food costs, and immediate blow to household budgets.

Inflation is also climbing and wage growth is slowing. Yet the US president maintains that the price is worth paying, even as energy costs surge and inflation accelerates worldwide. The result is a slowdown in global growth — raising the risk of a recession  that could be as bad as the Covid era and the financial crisis, or maybe even worse.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.ir