Trump’s war in Iran exposes US’s shift from a global guardian to an arbiter of chaos | US-Israel war on Iran

Several Asian countries, including India, Bangladesh, and the Philippines, have implemented rationing measures to address disruptions caused by Iran's closure of the Strait of Hormuz. The International Energy Agency reports that over 80% of oil and oil products transiting through the strait in 2025 were destined for Asia. The United States has shown relative resilience in the face of these energy market disruptions, while European economies are expected to experience a slowdown due to surging natural gas prices. The World Trade Organization predicts that global merchandise trade growth will slow this year as a result of high energy costs.