🏛️ Politics 4d ago · Dieter Helm

What the Iran war will cost Britain

New Statesman
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When Israel and the US attacked Iran, there were bound to be consequences for the countries that depended on Gulf oil and gas. Between them, China and India take more than 50 per cent of the oil going through the Strait of Hormuz, with Japan, South Korea and Taiwan making up much of the rest. The US doesn’t, because it is energy-independent – the largest oil producer in the world and the biggest exporter of LNG gas. Britain gets very little oil or gas at all through the Strait of Hormuz.



Why,

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