Srinagar, April 23 -- By Renaud Foucart, Senior Lecturer in Economics, Lanc

London- Iran's military might was never going to be a match for the US and Israel. So instead it turned to the highly effective weapon it has at its disposal - geography.

Blocking off the Strait of Hormuz has shaken the global economy. It has doubled the price of a barrel of crude oil, which has a knock-on effect on the price the rest of the world pays for everything from fuel to heating and food to holidays.

It also made Donald Trump have a rethink. The world is now waiting to see what happens next in a stretch of water which carries around 20% of the world's oil and liquefied natural gas.

For Iran, the Strait of Hormuz has been an extremely valuable geopolit...