Hormuz closed. Frankfurt tightens. Who pays the ECB rate hike bill?
Yannis Stournaras says he wishes the ECB did not have to act. It probably will anyway — and European shipping will absorb costs it neither created nor controls
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IRAN WAR
From Hormuz to Lamu: the fragile rise of African ports
A car carrier unloads 469 vehicles at Lamu, a port that barely functioned a year ago. The Iran war has placed African ports at the centre of a reshuffled global trade map
Saudi-Turkish defense partnership in a war of new rules
The U.S.–Israel war on Iran erupted the day after this analysis was first drafted. Every argument for the Saudi‑Turkish defense partnership stands. Every timeline has compressed