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UK Accuses Russia, Iran of Attempting to 'Hijack Global Economy'
UK Foreign Secretary Yvette Cooper accused Russia and Iran of trying to 'hijack the global economy' amid Iran's continued blockade of the Strait of Hormuz. This blockade has pushed oil prices to US$100 per barrel, threatening global inflation.
UK Criticizes Russia, Iran for 'Hijacking Global Economy'
UK Foreign Secretary Yvette Cooper has accused Russia and Iran of attempting to "hijack the global economy." This strong condemnation comes as Tehran continues its blockade of the Strait of Hormuz, a critical oil shipping route. Cooper made these remarks to the media during an official visit to Saudi Arabia, highlighting the escalating tensions in the Middle East.
Hormuz Blockade Fuels Oil Price Surge and Global Inflation Threat
Iran's new supreme leader has vowed to persist with attacks on shipping in the Strait of Hormuz. This action is presented as retaliation for ongoing US-Israeli strikes targeting his country. The sustained blockade has already caused oil prices to surge to approximately US$100 per barrel, posing a significant threat of higher inflation across the globe.
*Source: SCMP (2026-03-13)*
