UK says Russia, Iran trying to ‘hijack global economy’ amid Hormuz blockade

UK Foreign Secretary Yvette Cooper has accused Russia and Iran of attempting to “hijack the global economy” as Tehran continued to blockade a major oil shipping route.

Iran’s new supreme leader has vowed to continue attacking shipping in the Strait of Hormuz in retaliation for ongoing US-Israeli strikes on his country.

The blockade has seen oil prices jump to around US$100 per barrel, threatening higher inflation across the globe.

Speaking to the media during a visit to Saudi Arabia, the UK foreign secretary linked the threat from Iran to that from Russia, an ally of Tehran.

She said: “We have seen these links between Russia and Iran over an extended period of time.

“We’re seeing it in terms of technology, we see it in terms of the approach, we see it in terms of these kinds of tactics, and we see it in terms of the way these two states try to support each other and try to benefit together from attempting to hijack the global economy.”

She added: “We are very clear about the threat from both Russia and from Iran to the global economy and to all of our well-being.”