Is The West Prepared To Deal With Potential Iranian Sabotage Of The Oil Market

As with the Russia-Ukraine War, a key component of the Israel-Hamas War and the underlying conflict between Israel and Hamas’s sponsor, Iran is oil. The question of how core European countries are to keep their economies going if Russian oil and gas flows are fully sanctioned has long threatened to derail the West’s response to increased Russian aggression in Europe, as analysed in full in my latest book on the new global oil market order.

dollar terms since 1988. That said, China again has been a key factor in reducing the threat of this option being used since then, with its efforts to ensure a seamless route for its broader ‘Belt and Road Initiative’ across the Middle East.

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