As the blockade of the Strait of Hormuz drives the worst energy crunch in modern history, leading governments to scramble to unload their emergency oil stockpiles, developing countries are among the least prepared to mitigate the shock.
Although surging fuel prices due to the fallout of the US-Israel war on Iran have impacted most of the world , import-reliant poorer countries are among the worst affected and the most lacking in energy reserves to cushion the blow.
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The International Energy Agency (IEA), the Paris-based body tasked with ensuring the global oil supply, is comprised exclusively of the industrialised countries that are…
