Effects of Iran’s blockade will depend on how long crisis lasts as disruption ripples through supply chains
The closure of the strait of Hormuz, the crucial oil and gas shipping route that has been blocked by Iran since the US-Israeli attacks began, is having ripple effects around the world, with most industries already grappling with rising energy costs. If the strait is not reopened, transport blockages across the Middle East could cause significant shocks to food and medicine supplies.
No one knows how long the wider conflict will last, but governments are panicking about the implications. Yvette Cooper, the UK foreign secretary, is hosting a meeting with 35 other countries on Thursday to discuss reopening the strait. Here is what could happen in the UK if the blockade drags on.
Continue reading...
