The supply shock brought on by the conflict is teaching Brussels a vital lesson – one it will have to learn sooner or later
There are moments in history when reality breaks through ideology with brutal clarity. Western Europe is living through one of those moments now.
The Iran war has sent shockwaves through global energy markets – but in Europe, the tremors feel like an earthquake. What was once dismissed as pessimism or “populist scaremongering” is now openly acknowledged at the highest levels of power.
With the Strait of Hormuz blocked, the EU faced a supply shock that promised to cripple manufacturing, ground airlines, hike up the price of…
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