Independent.co.uk said:
...But what if Iran were to turn the tables and cut off oil to Europe, concentrating on its massive sales to India and China? With Europe already in fiscal turmoil, that could create another oil shock on the scale of those in the 1970s, which deflated the global economy, triggered a stock market crash, caused inflation to soar and led to a wave of unemployment that toppled governments.
Or Tehran might announce a selective oil embargo against Britain, France and Germany – leaving its biggest clients in southern Europe untouched. The markets have already anticipated this: oil went up by $2 in a day after the storming of the British embassy...
Or Tehran might announce a selective oil embargo against Britain, France and Germany – leaving its biggest clients in southern Europe untouched. The markets have already anticipated this: oil went up by $2 in a day after the storming of the British embassy...
Last edited: