Long protests are gaining momentum across Europe as oil prices rise up to U$150/gallon while US-Israel war against Iran grinds into it’s 40th day with a failed Ceasefire agreement.
Experts have warned that as long as the Strait of Hormuz remains closed, countries dependent on oil shipped from this region should brace for higher oil and natural gas prices.
This is expected to trigger severe energy crisis in the EU/UK. Economies will take longer periods to recover from the effects of this war.
“The longer the Strait of Hormuz remains shut, the higher oil and natural gas prices will rise, the more severe the energy crisis in the EU/UK will become, and the longer the recovery period will be, ” said Kirill Dmitriev Russian president’s special envoy for investment and economic cooperation with foreign countries and CEO of the Russian Direct Investment Fund (RDIF).
He added, “U$150+ oil may be reached as early as this week,” he wrote on his X page after US President Donald Trump announced the beginning of the blockade of the Strait of Hormuz.”
Wave of Protests across Europe
Protests against fuel shortages in the United Kingdom and EU countries are reportedly gaining momentum.
“Farmers will be the first wave, followed by industrial workers as deindustrialization accelerates,” Kirill Dmitriev added.
In Ireland protestors have remained on streets for five days blocking with trucks and tractors the country’s only oil refinery, ports, and highways protesting against rising fuel prices.
According to emerging reports, 600 out of the country’s 1,600 filling stations have suspended operations.
What’s next After Iran and US fail to Agree
Islamabad negotiations which lasted about 21 hours Iran was unwilling to give up its nuclear ambitions. This has angered the United States.
“In many ways, the points that were agreed to are better than us continuing our military operations to conclusion, but all of those points don’t matter compared to allowing nuclear power to be in the hands of such volatile, difficult, unpredictable people,” President Trump says.
US President Donald Trump has given orders to the military to blockade the Straight of Hormuz immediately.
Via posts on Truth social platform, President Trump said he has, “instructed our Navy to seek and interdict every vessel in International Waters that has paid a toll to Iran”, and that the US Navy is going to start ” destroying the mines the Iranians laid in the Straits”.
“No one who pays an illegal toll will have safe passage on the high seas,” he says, adding, “Any Iranian who fires at us, or at peaceful vessels, will be blown to hell !”
“The blockade will begin shortly,” he says.
According to President Trump, the new leadership in Tehran are “volatile, difficult, unpredictable people”.
