Image: Activists with groups including 350.org and Fuel Poverty Action protested outside of the UK Department for Energy Security and Net Zero in London on July 1, 2026 (Photo by 350.org)

Jessica Corbett of Common Dreams reports: “With the US and Iranian governments engaged in 60 days of peace talks, the United Nations’ latest projections about the illegal war’s impact on fossil fuel subsidies this week triggered new demands for taxing the windfall profits of climate-wrecking Big Oil.

The United Nations Development Program (UNDP) on Monday released “Military Escalation in the Middle East: Cushioning the Global Shock,” a report detailing how governments have navigated the “most severe oil supply shock in history,” caused by Iran limiting traffic through the Strait of Hormuz in response to the Trump administration and Israel’s unlawful assault…”

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