Just as countries across the world were beginning to heave a sigh of relief after the US Supreme Court struck down the reciprocal tariffs imposed by US President Donald Trump, a new crisis opened up. On February 28, the US and Israel began coordinated attacks on Iran, killing Iran’s Supreme Leader Ayatollah Ali Khamenei and sparking Iranian attacks across West Asia. As the war escalated, energy supplies, global trade and supply chains came under intense pressure as Iran blockaded the crucial Strait of Hormuz.