In the media: How is the Hormuz blockade affecting the global economy?

How is the Hormuz blockade affecting the global economy? Prof Dr Andreas Goldthau addresses this question in a recent interview on Deutschlandfunk Nova.

He argues that the Strait of Hormuz is an important part of the global energy trade. All it takes to cause an increase in oil and gas prices is to make it credible that travelling through the passage is highly risky. Even if the oil market is currently well supplied, the foreseeable shortage will lead to a price increase that will be felt globally - not only in Asia, where the largest consumers of oil and gas from the Gulf are, but also in Europe.

The whole interview is available here to listen to!