Prof. Steve Hanke: Dozens of Ballistic Missiles Strike Aramco’s Jazan Refinery & Yanbu Pipeline

This interview explores escalating geopolitical tensions and their impact on global markets. Key topics include Saudi Arabia's conflicts with Yemen, highlighting the Houthis' resilience and the resulting strain on Saudi oil infrastructure. The discussion analyzes how these conflicts, alongside NATO-Russia tensions in the Black Sea, are disrupting critical global choke points (Strait of Hormuz, Red Sea, Bosphorus), driving up oil and wheat prices. While this turmoil squeezes importers, it improves terms of trade for agricultural exporters like Brazil. The conversation also critiques US foreign policy, noting the lack of a coherent strategy, the influence of the Israel lobby on Middle East agreements, and the destabilizing effect of broad tariffs. A deep dive into how global supply chains are reshaped by ongoing conflicts.

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