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Merz: US Humiliated by Iran, No Exit, Costs Spike

4/29/2026

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Summary

Story summary

Chancellor Friedrich Merz said on April 27 the United States is humiliated by Iran, lacks an exit strategy, and risks a costly quagmire.
He told President Donald Trump that Europe was not consulted before the United States and Israel struck Iran on February 28.
He noted the European Union (EU) spent an extra €25 billion on energy and Brent crude now tops $100 a barrel, raising fuel costs.

History

Historical Context

In October 1973 OAPEC, led by Saudi Arabia, imposed an oil embargo that pushed crude from $3 to $12 a barrel—a 300 % jump—sparking the first oil shock. The embargo lifted in March 1974 but left Europe reeling, prompting long-term diversification of supplies. Today Chancellor Friedrich Merz warns that U.S. strikes on Iran could repeat that shock as the EU adds €25 billion to energy budgets.

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Story summary

Chancellor Friedrich Merz said on April 27 the United States is humiliated by Iran, lacks an exit strategy, and risks a costly quagmire.
He told President Donald Trump that Europe was not consulted before the United States and Israel struck Iran on February 28.
He noted the European Union (EU) spent an extra €25 billion on energy and Brent crude now tops $100 a barrel, raising fuel costs.

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