"To shield ordinary Indians from the war in Iran, the government in Delhi redirected supplies of liquefied gas to Indian families, limiting supplies to the plastics industry."
"Economies in Asia import over a third of the energy they consume, with Korea importing four-fifths and Japan nine-tenths, primarily from the Gulf."
"The S&P 500 index has lost a relatively modest 5% since the beginning of Trump's war, revealing the relative resilience of the US economy."
"Traffic through the Strait of Hormuz has collapsed by 90%, significantly affecting energy markets and leading to increased prices for natural gas in Europe."
Governments in Asia are taking significant steps to shield their populations from the effects of the war in Iran. India redirected liquefied gas supplies to families, while Nepal rationed gas and the Philippines reduced the workweek. Bangladesh closed universities and rationed fuel. The closure of the Strait of Hormuz has severely impacted energy imports, with Asian economies heavily reliant on Gulf oil. In contrast, the US economy has shown resilience due to its domestic natural gas supply, which insulates it from international price fluctuations.
Read at www.theguardian.com
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