Strait of shock: Iran economic fallout
Economist Podcasts
The Economist
4.3 • 5K Ratings
🗓️ 11 March 2026
⏱️ 25 minutes
🧾️ Download transcript
Summary
Overnight, the Pentagon said it “eliminated” 16 Iranian mine-laying ships, raising further jitters about the global impact of the war in Iran. Fifteen years after a tsunami caused the Fukushima nuclear disaster, Japan is restarting reactors. And our correspondent meets Jafar Panahi, the Iranian director whose film is nominated for two Oscars this weekend.
Guests and host:
- Rachana Shanbhogue, business and finance editor
- Noah Sneider, East Asia bureau chief
- Andrew Miller, “Back Story” columnist
- Rosie Blau, host of “The Intelligence”
Topics covered:
- Iran, oil prices, Donald Trump, Strait of Hormuz, Brent crude, International Energy Agency, Russia
- Japan, nuclear, Fukushima, tepco
- Oscars, “It Was Just An Accident”, Jafar Panahi
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Transcript
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| 0:00.0 | The Economist |
| 0:02.0 | Hello and welcome to the intelligence from The Economist. |
| 0:12.0 | I'm your host, Rosie Bloor. |
| 0:16.0 | Every weekday we provide a fresh perspective on the events shaping your world. |
| 0:29.6 | 15 years ago today, a giant tsunami struck the coast of Japan, causing catastrophic damage to the Fukushima nuclear power plant. |
| 0:33.6 | The country soon shuttered all such facilities, |
| 0:36.6 | but now Japan is reviving its nuclear dreams. |
| 0:40.3 | And one of the films competing for an Oscar this weekend is called It Was Just an Accident, |
| 0:47.3 | made by an Iranian filmmaker who has spent time in jail. |
| 0:50.3 | The war has only made the movie's theme of moral reckoning more urgent. |
| 0:55.0 | Our correspondent met its director. |
| 1:01.0 | First up though. |
| 1:07.0 | Overnight, the Pentagon claimed to have eliminated 16 Iranian mine-laying ships near the |
| 1:16.4 | Strait of Hormuz. |
| 1:18.0 | This morning, a cargo tanker was evacuated after being hit by a projectile. |
| 1:22.8 | All news that once again raises jitters about the economic impact of the conflict in Iran. |
| 1:28.7 | On a regular day, around $20 billion worth of oil, a fifth of the global trade, |
| 1:34.6 | sails out of the Persian Gulf and through the strait. |
| 1:37.6 | A similar share of the world's liquefied natural gas also takes that route. |
| 1:41.9 | But with the American-Israeli war now in its second week, |
| 1:45.0 | Iran has threatened to attack any ship that attempts to cross the strait. |
| 1:50.0 | And oil prices are on a roller coaster. |
... |
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