March 12, 2026
Why does the war with Iran threaten the global economy?
It could be that the U.S.-Israel war with Iran ends soon. That was the message from Donald Trump this week. But it may not. The longer the war continues the more collateral damage to the world economy. Mostly because of the impact of energy prices. But why are we all so vulnerable still to events in one small part of the world and one tiny channel, the infamous Strait of Hormuz? David Aaronovitch asks what it tells us about the problems of global energy and oil dependency and what could be done to alleviate them.
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