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NatWest Commercial and InstitutionalAuthor: NatWest Commercial and Institutional
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Trade Links (episode 10): The Iran war: what will peace look like?
Tuesday, 24 March, 2026
In this episode of Trade Links, Tim Phillips is joined again by Aastha Gupta and Scott Livingstone to explore an unprecedented scenario in global trade: what happens when both the Strait of Hormuz and the Red Sea are compromised at the same time? With escalating tensions in the Middle East and warnings from the Houthi movement, the team considers the far-reaching consequences for energy, food security and global supply chains. They also talk about Donald Trump’s delayed China trip, and how energy security and supply chain resilience will likely overshadow traditional trade topics like tariffs and soybeans.Lastly, they ask the dreaded question: What’s on the Trade Links radar?Clue: fertiliser shortages impacting Brazil and India, potential pressure on Cuba from the US, and rising tensions between Pakistan and Afghanistan.All details correct at time of recording.For any terms used please refer to this glossary https://www.natwest.com/corporates/insights/markets/glossary.htmlPlease view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.htmlPlease check out and subscribe to our channels on Apple and Spotify.This episode was recorded on 19 March 2026.
