“I think we have not yet fully understood how big the blow will be, but it could be the biggest economic blow seen in the century. Because even if we manage to find some kind of peace settlement between the United States and Iran and also between Israel, Lebanon and Hezbollah, it will not be possible to restore the supply of oil, gas, helium and various fertilizers to the countries that need it in the near future,” said a senior member of the Geopolitical Research Center to TV24 researcher, former director of the Office for the Protection of the Constitution (2003–2013) Jānis Kažociņš.
J. Kažociņš mentioned the example that Qatar supplies about 20% of the world’s liquefied gas and we also use liquefied gas in Latvia. Iran attacked Qatar’s main production facility, and Qatar has said it could take four to five years to restore that level of production. It’s not something that’s going to happen next week, he explained J. Fur coat.
And if now US President Donald Trump continues his attacks on Iran and, for example, destroys their oil production and export capabilities as well, it will have consequences not so much in the US as in the Far East, and so we hear that in the last 24 hours, Chinese President Xi Jinping has said quite uncharacteristically that Strait of Hormuz has to be opened and he usually doesn’t talk like that. And this signal is understandable, because 90% of Iran’s oil exports go to China, but the USA has now blocked Iranian ports, said J. Kažociņš.
