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'Bit of pain' worth long-term security from Iran, Bessent tells BBC

supply would be as big as the fallout from [the 1970s oil crisis](https://www.bbc.co.uk/news/articles/c78lj4976lvo), when Arab oil producers placed an embargo on the US and other countries which backed Israel during

Airlines demand UK relax noise rules and cut flight tax as fuel shortage looms

blockade the strait of Hormuz. Last week the head of the International Energy Agency said flight cancellations would come soon if oil supplies from the Middle East were not restored, adding that [Europe had only

From night life in Egypt to rice farming in Vietnam, the war in Iran is a drain

blockade in the Strait of Hormuz, a key waterway for international trade. The impacts go beyond imports. Many households in Africa and Asia [depend on remittances](https://www.dw.com/en/iran-war-puts-south-asias-gulf-remittances-at-risk/a-76513989) from relatives who work

UK steps up plans for potential shortages caused by Iran war

impact, "what happens abroad will still affect us here at home". A government source previously told the BBC it was planning for a scenario which would involve breakdowns in the supply of carbon dioxide

Airlines and companies using fuel surcharges to cover surge in costs, UK survey shows

blockade of the strait has choked off 20% of the world’s oil supplies. Photograph: Amirhossein Khorgooei/ISNA/AFP/Getty Images Britain’s services sector, which includes retailers, finance firms and transport companies, makes up about

Who is the Indian guru Venezuelan acting President Delcy Rodriguez follows?

Hormuz has forced countries to scramble for alternative energy sources. Nearly half of India’s crude oil imports are normally shipped from Gulf producers through the strait, along with large volumes of liquefied natural

Bangladesh seeks IMF aid: How badly has Iran war hit its economy?

Hormuz – through which before the war one-fifth of the world’s oil and natural gas supplies were shipped, largely to Asian countries – remains under the control of Iran while the US has a [naval

Is Iran’s oil storage nearly full – and will it have to cut production?

Hormuz to other shipping. This is the primary motive behind Washington’s naval blockade of Iranian ports. Iran exported 1.84 million barrels per day (bpd) of crude oil in March and shipped 1.71 million

Neither US nor Iran can sustain strait of Hormuz standoff indefinitely

oil price. The most significant development this week was the collapse of Trump’s Project Freedom on Tuesday after just 50 hours. The unilateral US proposal had sought to create a safe zone for merchant

Japanese snacks go black-and-white: Why Iran war is driving up ink prices

impacted companies to grasp the situation,” he said, ‌‌adding that a fact-finding hearing would take place on Tuesday. However, major ink and chemical producers have raised prices due to the volatility in oil

Iran’s currency falls to new low as US blockade, sanctions impact trade

blockade of Iran’s southern waters, which the US Central Command insisted on Tuesday had “cut off economic trade going into and coming out of” the country. Amid threats by US President Donald Trump

UK relaxes strict sanctions on Russian crude oil

supply of certain fuels due to the de facto blockade of the strait of Hormuz since the start of the US-Israeli war with Iran. For years the UK has led international efforts

What people in power think the impact of the Iran war will be

impact on economically poorer countries. Iraq is not shipping or producing oil, which is normally responsible for 85% of revenues. Bangladesh, with significant household needs for gas for cooking, is cut off from Middle East

Maths behind Hormuz toll: Is paying Iran for transit cheaper than blockade?

impact of blockading the Strait of Hormuz also goes beyond traffic flow. The disruption in the flow of oil, gas, fertilisers and maritime traffic in general has left several countries reeling under a rising cost

We can make sure another Chornobyl disaster does not happen, here is how

impacts, and costs that continue to mount across generations. The lesson is clear. When nuclear systems fail, the consequences are long-lasting, widespread, and extraordinarily difficult to manage. The damage does not end when headlines

Hormuz effect? How US, China are ramping up tensions over the Panama Canal

oil prices to soar. Later, [Iran began charging tolls](/news/2026/3/26/tehranstollbooth-how-iran-picks-who-to-let-through-strait-of-hormuz) for passage through – a move until now unheard of for a strait. Despite a fragile ceasefire, Washington, in an attempt to pressure Iran, has imposed

‘Turbulent and dangerous’: How shipping is the new global battleground

blockade on Iranian ships and ports. Since then, the US has captured Iranian ships near the strait, and its troops have boarded other ships hundreds of miles away in the Asia Pacific, which it alleges

‘Operation Epic Fury’ has ended: Is the Iran war over?

supplies are shipped in peacetime. Iran’s threats to attack ships in the strait have blockaded it since the US-Israel attacks on Iran began. Then, the US announcement of a naval blockade on Iranian

Another day, another pivot as Trump flails in an Iran trap of his own making

oil price and boosted stock markets, as the president’s upbeat messages are designed to do. But it all remained tenuous. Iran’s Islamic Revolutionary Guard Corps (IRGC) said the reopening of the strait

Trump claims US has total control over strait of Hormuz after Iran seizes two container ships

impact of the war on the global economy could linger long after any peace deal was agreed. A Pentagon spokesperson described the report as “inaccurate” but did not provide specific objections. In his Truth Social