The US-Israel strikes on Iran have sent energy prices soaring and upended global supply chains in a multi-front crisis
After the United States and Israel launched strikes on Iran on 28 February, triggering a cascade of retaliatory attacks across the Gulf, the economic toll on Africa is emerging in overlapping waves. The most immediate is oil: prices have broken US$100 a barrel – already roughly 50% above February levels – with industry sources predicting over $120 if the effective closure of the Strait of Hormuz, through which a fifth of global petroleum flows, persists.
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The Iran war is battering an already fragile economy, though Egypt could still reap some gains from the crisis
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With rivals co-opted, detained or outmanoeuvred, and a new electoral law, the President has engineered near-total political dominance
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