How bad is the economic hit from the Iran war going to be? If the talk around price caps on essential food items, and lifting sanctions on Russian oil and gas are anything to go by, then it could be very bad indeed.

The Government slipped out overnight that imports of Moscow's oil refined into jet fuel and diesel in third countries will be allowed.

How bad is the economic hit from the Iran war going to be? If the talk around price caps on essential food items, and lifting sanctions on Russian oil and gas are anything to go…