Oil shock: Iran's leaders inflict pain on the global economy

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Previously titled “Oil shock: Iran's leaders play hardball with global economy” — renamed by the publisher on Aug 2, 2026

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Source

Recorded13 Mar 2026

Publisherabc.net.au ↗

Handlerec:16901975

Show notes

Nearly two weeks after the United States and Israel attacked Iran, Iran has found a way to inflict pain back on its enemies by stopping international shipping in the Strait of Hormuz — the passage for 20 per cent of the world's oil and gas supplies.Its military continues target tankers and cargo ships in the Strait, driving the price of oil up and forcing countries around to world to release strategic oil reserves.

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