With the flow of energy through the Middle East still mostly blocked and oil prices rising, policymakers in Europe are confronting the immediate impact of higher costs and trying to decipher the potential economic damage of a prolonged conflict. On Thursday, officials at the European Central Bank and Bank of England are expected to hold…
More than a dozen American warships are patrolling the waters around the Strait of Hormuz to enforce a blockade of Iranian ports, aided by American fighter jets and surveillance aircraft. The goal is to force Iran to cave in to American demands by depriving the government in Tehran of its biggest single source of revenue…
War in the Middle East has upended the world economy, the International Monetary Fund said on Tuesday, warning in a report that disruptions to oil markets could slow growth, fuel inflation and raise the possibility of a global recession. The sober message came after the global economy had largely weathered a pandemic, Russia’s war in…
For nearly 50 years, Iran has been treated as an outlaw, earning a spot as one of the most heavily sanctioned countries in the world for its nuclear and weapons programs, its support for terrorism, its human rights abuses and more. But despite persistent efforts by the United States, the European Union, Britain and the…
If global geopolitics were played out in a high school cafeteria, Europe would be having a “Mean Girls” moment. Once a sought-after friend and trading partner, Europe is finding itself on the outs with the world’s big powers. Russia, the continent’s longtime supplier of oil, turned on its Western neighbors after invading Ukraine and has…
