Currently, due to the small war going on between the US and Houthi, the price of Crude Oil in the US and Europe has skyrocketed due to which many companies have stopped exports, manufacturing, and transportation. Currently, I believe that the US has banned oil imports from Russia, Iran, and many other countries due to which US and European Union countries may see economic inflation. The US got the most profit from oil imports from Russia, in the US got the most profit from reselling Oil, Gas, and LNG because of the Ukraine and Russia war. Recently, the US has imposed strict sanctions on Russia, Iran, and many other countries which can be a big threat to US and European Union Treasury funds in the future.
Will the US take more debt amid Crude Oil and US Sanctions on Russia and Iran?
Due to this, US and European Union countries may have to take more debt to keep the government jobs going, which will directly cause inflation and recession. Due to US sanctions, the Iran–Israel war, the Houthi war, and the Ukraine–Russia war, this can create disaster for the US Congress. Due to all this, it seems that Saudi and UAE’s US-led cooperation against Yemen may further increase the price of crude oil in the world. Because UAE and Saudi Arabia have also blamed Houthi for attacking Global Ships the closeness of UAE and Saudi Arabia with the US is also making a new enemy from Houthi and Yemen in the Middle East. And anyway, neither of US nor Yemen is ready to retreat into the Red Sea which may be the reality of the global economy, inflation, and heavy cost.