About this episode

Prof. Steve Hanke discusses the economic implications of the Strait of Hormuz remaining shut following the US-Israeli war on Iran.

On this episode of Going Underground, we speak to Prof. Steve Hanke, Professor of Applied Economics at Johns Hopkins University. He discusses why Russia continues to be a winner economically as the Strait of Hormuz remains shut after the US-Israeli war on Iran, the looming full ramifications of the energy crisis that will hit in August resulting in skyrocketing energy prices, why Europe must lift sanctions on Russia to escape the dire economic situation, why the US and Israel’s miscalculations in launching a war on Iran mean that Hormuz will remain shut, his predictions for the global economy this year as the economic crisis deepens, and much more.

People in this episode

Host: Afshin Rattansi

Guest: Prof. Steve Hanke

Topics covered

• economic crisis
• energy prices
• sanctions
• geopolitics
• Iran
• Russia
• global economy

Keywords

• economic disaster
• energy crisis
• sanctions on Russia
• global economy predictions
• US-Israeli war
• Strait of Hormuz
• skyrocketing energy prices

Mentioned in this episode

Organizations: Johns Hopkins University

Places: Iran, Russia, Europe, Strait of Hormuz

More episodes of Going Underground Hosted by Afshin Rattansi

• Chen Weihua: The US is the DESTROYER of the Global Order, the US Underestimated CHINA’S POWER · June 8, 2026 · 27 min

Explore listener stats, chart rankings, contacts and more on the Going Underground Hosted by Afshin Rattansi podcast page.