Iran’s Former Roads Minister: Hormuz Shock Has Moved Beyond Oil to the Cost of Money
Mehrdad Bazrpash, Iran’s minister of roads and urban development in the 13th government, said the Hormuz shock is no longer confined to oil and that the effects of the war have now reached the price of money.
RoydadNaft – Mehrdad Bazrpash, Iran’s minister of roads and urban development in the 13th government, said the Hormuz shock is no longer confined to oil and that the effects of the war have now reached the price of money.
According to Roydad Naft, Bazrpash wrote on social media:
1. Extra energy cost for Europe: €90 billion
2. Federal Reserve rate increase: 25 basis points
3. U.S. 10-year Treasury yield: near 5%
“These three numbers tell one story,” he wrote. “The Hormuz shock is no longer confined to oil. The effects of the war have moved past crude and reached the price of money.”
