Advertisement
The war is intensifying.
US forces have bombed Iran’s main Kharg Island oil export hub as President Donald Trump warned a “whole civilisation will die tonight” if the Islamic Republic did not capitulate and end the war including reopening the economically vital Strait of Hormuz.
The strike on Kharg Island came about 12 hours before Trump’s deadline for Iran to agree to terms expired at 8pm Washington time on Tuesday night (10am Wednesday AEST).
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.