How Iran is making a mint from Donald Trump’s war

GateUser-9ad11037 · 2026-04-08T00:23:43+00:00

The ongoing Gulf war has damaged the reputation of Middle East petro-monarchies as reliable oil suppliers, with the Strait of Hormuz closed and significant reductions in production and export revenues.

GateUser-9ad11037

2026-04-08 00:23:43

Abstract generation in progress

FOR HALF a century the Middle East’s petro-monarchies have cast themselves as reliable suppliers of low-cost petroleum. The third Gulf war, now in its fifth week, has shattered that image. With the Strait of Hormuz largely closed, 15% of the world’s oil cannot reach its customers. All Gulf states have slashed output and seen export proceeds plunge.

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