What does the Iran crisis mean for the global economy?
The current crisis in Iran — sparked by the stunning joint US-Israeli attacks on 28 February 2026, which quickly escalated into full-scale armed conflict — continues to send shockwaves through the global economy. What was initially framed as a precise, limited military operation to neutralise threats from Iran’s nuclear programme and regional proxies has morphed into a protracted confrontation with far-reaching consequences for growth, inflation, energy security and geopolitical stability.Transits disrupted, oil prices risingAt the centre of this turmoil lies the Strait of Hormuz, the narrow w...