ICYMI: From restaurant closures in the Philippines and petrol rationing in Sri Lanka, to Asian food production crises due to fertiliser shortages, the effects of the US-Israeli war on Iran reverberate around the world
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Middle East crisis – live updates
From the Philippines cutting down to a four-day week to save electricity, to restaurants in India taking gas-intensive dishes off the menu, and rents being frozen in Spain, the economic fallout of the US-Israeli war on Iran has reverberated around the world.
Facing an existential threat, Tehran has retaliated by closing the vital Hormuz shipping lane and bombing its oil and gas-rich neighbours, compounding a deepening crisis abroad for businesses and families. Continue reading…
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