Iran US Conflict Threatens Global Energy Supplies The Iran US conflict has been escalating for the past year, with tensions flaring in June 2019 when the United States announced it would no longer exempt countries from US sanctions on Iranian oil exports.
This move was a response to Washington's withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May 2018, which had lifted nuclear related sanctions on Iran.
The reimposition of sanctions has had far reaching consequences for global energy markets, particularly in terms of oil supplies.