In October 1973 two crises - one economic, one political - intersected, with dramatic and long term consequences for international relations. On 6 October, Egypt and Syria launched an attack on Israel, and within a few days the major Arab oil producers announced their support by use of the 'oil weapon', including a boycott of supplies for countries friendly to Israel and a programme of production cuts. This was followed by the unilateral declaration of a steep increase in the price of oil by the Organization of Petroleum Exporting Countries (OPEC). The result was international panic and world...
In October 1973 two crises - one economic, one political - intersected, with dramatic and long term consequences for international relations. On 6 Oct...
