3 August 2026 12:10 (UTC+04:00)Ulviyya Poladova Read moreA prolonged closure of the Strait of Hormuz through the spring of 2027 could tip the UK economy into recession, AzerNEWS reports, citing The Daily Telegraph. The report warns that if the conflict involving Iran continues, the UK's gross domestic product (GDP) could contract by 0.2% in 2027. Under this scenario, the first two quarters of 2027 would record negative economic growth, meeting the technical definition of a recession. Earlier, former UK Chancellor Rachel Reeves announced that the country's economic growth forecast for 2026 had been revised downward from 1.4% to 1.1%. The strait separates Iran from Oman, and in some areas, the width of the shipping channel is only two miles on each side.