The former head of the Constitutional Protection Bureau assessed the consequences of the crisis in the Persian Gulf.
Former director of the Constitutional Protection Bureau and former presidential advisor Janis Kadzocins warned in an interview with TV-24 that the war in the Middle East could lead to the biggest economic shock of the century. Dozens of countries could be left without essential natural resources - gas, oil, helium, fertilizers. Supplies are disrupted, and it is unknown when they will be restored and in what volume.
Kadzocins reminded that Iran bombed the liquefied gas production in Qatar, and Qatar has already stated that it will take 4-5 years to restore such production levels. "And Qatar supplies about 20 percent of the world's liquefied gas! Latvia, by the way, also purchases liquefied gas," the expert noted. He pointed out the call from the leader of China to open the Strait of Hormuz. "The leader of China does not make such statements lightly. The reason is obvious - 90% of Iranian oil exports go to China, and the U.S. has blocked Iranian ports, so there are no more supplies," said J. Kadzocins.
