"Prices are inelastic downwards": Former Lebanese PM warns Hormuz reopening won't provide instant economic relief

By Ayushi Agarwal Beirut [Lebanon], June 17 (ANI): As the international community prepares for the formal signing of the US-Iran peace deal this Friday, former Lebanese Prime Minister Fouad Siniora has cautioned that the reopening of the Strait of Hormuz, while a necessary diplomatic victory, will not serve as an immediate 'reset button' for the global economy.