The Iran war is not just a military conflict — it is the biggest economic disaster most of us will ever see. Two weeks in, the closure of the Straits of Hormuz has already triggered a global economic crisis that will hit every country on earth.
Twenty percent of the world's oil flows through the Straits of Hormuz. So does one-third of all raw materials for fertiliser production — urea, sulfuric acid, and phosphates. With that trade route now shut, oil prices are heading towards $150 a barrel or more, and the fertiliser needed for April planting simply cannot get through. The result? Potential crop failure and famine by autumn.
This is the economic impact of the Iran war that nobody in Washington or Tel Aviv anticipated. Trump and Netanyahu assumed they could impose regime change from the air — but Iran fought back with the one weapon that matters: control of the world's most critical trade chokepoint.
The consequences are already cascading. Dubai airport has closed. Insurance markets for shipping and aviation have frozen. Gulf states like Kuwait and Iraq face imminent food and water shortages. Global inflation is accelerating. Industrial supply chains — including for AI chips — are breaking down. Balance of trade is collapsing for oil-dependent economies worldwide.
And Iran has named its price: the removal of all US air bases in the Gulf and $500 billion in compensation. Most countries are refusing to join the US, telling Washington to clean up its own mess.
There is no good outcome here now. Even if Trump and Netanyahu were removed tomorrow, the damage is done. This is what happens when two men start an illegal war to avoid going to prison.
In this video we cover:
- Why the Straits of Hormuz closure is an unprecedented global economic crisis
- How oil prices could exceed $150 a barrel and what that means for every economy
- The fertiliser crisis that could cause worldwide famine by autumn
- Why Iran's strategy has outmanoeuvred the US and Israel
- The cascading collapse of trade, insurance, and industrial supply chains
- Iran's demands and why no country wants to help America