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Closing the strait of Hormuz is worse for Iran and China than anyone else. Natural gas to Europe but not as big of an issue compared to Russian energy supplies.
by treebeard901 7mo ago
Closing the strait of Hormuz is worse for Iran and China than anyone else. Natural gas to Europe but not as big of an issue compared to Russian energy supplies. The Saudis and others have pipelines to bypass the strait. Many countries who sell oil obviously benefit from the increased price. I'd almost see how the U.S., Russia, Saudis and even the current administration in Venezuela would be fine with the oil price increase if Irans supply is taken off the market for a long time.
- subscribed 7mo agoIt's not just oil. It's food for all the states in the area and it's 11% of the global trade: https://theconversation.com/strait-of-hormuz-gulf-states-food-security-is-at-immediate-risk-but-wider-shortages-could-push-up-consumer-prices-globally-277214 https://theconversation.com/strait-of-hormuz-gulf-states-foo...