The oil, gas and arms companies profiting from the war on Iran
As the death toll in Iran moves above 3,500 and energy bills rise for UK households, fossil fuel and weapons companies have seen their profits rise dramatically since the war by the US and Israel began two months ago.
The standoff in the Strait of Hormuz has left 1,600 vessels and 20,000 seafarers stranded in the Gulf amid a standoff between the US and Iran, as Brent crude tops $107 a barrel.
While hitting the pockets of millions in Europe, Asia and worldwide, the war has created big winners. On Monday, a report from the Stockholm International Peace Research Institute (Sipri) found that global military expenditure had increased to $2.887 trillion in 2025, the 11th year of consecutive rises.
Recent analysis conducted by climate charity Global Witness for the Guardian found that major oil and gas companies made over $30m an hour in the first month of the war on Iran.
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