The US is recklessly spreading economic havoc among global friends and foes while suffering little harm itself
To shield ordinary Indians from the war in Iran, the government in Delhi redirected supplies of liquefied gas to Indian families, for which it is the main cooking fuel, limiting supplies to the plastics industry. The Nepalese government rationed gas and the Philippines trimmed the government workweek to four days. Bangladesh closed universities and rationed fuel.
They have been hardest hit by Iran’s closure of the strait of Hormuz. Economies in Asia import over a third of the energy they consume, on average. Korea imports four-fifths; Japan nine-tenths; Thailand 55%. Most of this comes from the Gulf. About 80% of oil and oil products transiting through the strait in 2025 was destined for Asia, according to the International Energy Agency. But traffic through its waters has collapsed by 90%.
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