eu pays dearly for its russia error energy collapse as hormuz proves an iranian strategic masterpiece

Iran's strategic control over the Strait of Hormuz threatens global oil and LNG supply routes, causing supply disruption risk for EU and Asian importers. The EU's reduced reliance on Russian energy is partially reversed due to Iran tensions, increasing energy costs. Asian demand for Middle Eastern oil spikes, driving up global crude prices. The channel is supply_shortage and logistics (transit time/insurance). Impact is global but particularly acute for EU and Asia. Winners: US and Norwegian energy exporters. Losers: EU consumers, Asian refiners, and net energy importers.