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The war in the Middle East is less than a month old, but its impact is already being felt widely. In the UK on Thursday, the Bank of England held interest rates at 3.75% on Thursday – after an earlier expectation they could be cut – with a warning that inflation could tick up. Ahead…
“To put it mildly, this is bananas,” said David Tannenbaum, director of Blackstone Compliance Services, a consultancy specialising in maritime sanctions. “Essentially we’re allowing Iran to sell oil, which could then be used to fund the war effort.”
Other major businesses across the country also deemed as critical, such defence firms, transport companies, and cyber security companies, have their own detailed contingency plans to follow in the event of crisis, both as a result of conflict with other countries, and challenges such as natural disasters.
