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

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 to target tankers and cargo ships in the Strait, driving the price of oil up and forcing countries around the world to release strategic oil reserves.