TWENTY MINUTES INTO THE FUTURE: ‘Iranian regime in death throes risks a major economic shock.’

Sir Niall [Ferguson], the Milbank family senior fellow at the Hoover Institution, Stanford University, said: “I think the markets are complacent about this because there have been so many Middle Eastern crises in our lifetimes that produced only a blip in the oil price.

“But remember when an authoritarian regime is on its last legs, when it’s the end game, they tend not to go quietly.”

He predicted that the Iranian regime and its allies could hurt the US by blocking the Strait of Hormuz, and that would have a “massive economic impact”, pushing up the price of oil.

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