Global economy suffers Hormuz closure
This episode examines the growing economic fallout from the crisis in the Strait of Hormuz, as oil prices surge, shipping remains severely disrupted, and the impact is increasingly being felt by consumers around the world. Brent crude has climbed above 108 dollars a barrel, while the latest disruptions to Saudi Arabia’s alternative oil routes are putting further pressure on global supplies.
Meanwhile, a planned Iran-Oman arrangement on shipping through the Strait of Hormuz has been postponed, adding to uncertainty over the future of one of the world’s most critical energy corridors.
President Trump has blamed the rise in oil prices on the legacy of the Biden administration, insisting that prices will “drop like a rock” once the military conflict with Iran comes to an end. But with US diesel prices at record levels and financial markets increasingly concerned about inflation, the economic consequences of the war are becoming increasingly difficult to separate from the military campaign itself.
So, who is ultimately paying the economic price for this conflict? Washington launched its military campaign in an effort to impose its will on Iran. But the war has instead triggered a major global energy shock. Has the strategy produced the very opposite of what it was intended to achieve?
That is what we’ll be exploring with our guests in this edition of the program.
Regional push for Hormuz deal
BRICS Summit: No to unilateralism, sanctions
Iran response to US aggression
No talks until Iran’s conditions are met: SNSC chief
Supertanker explodes after hitting mines on illegal route south of Hormuz: IRGC Navy
VIDEO | Global economy suffers Hormuz closure
War on Iran threatens Persian Gulf states’ $4 trillion commitments to US: Report
Six children among 13 killed as Israel ramps up attacks on south Lebanon
Two civilians killed as Saudi Arabia bombs bridge in southern Yemen
VIDEO | News Review: IAEA politicizing Iran nuclear case under US pressure
VIDEO | Press TV's news headlines
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
