The Oil Embargo Following the Arab-Israel War of October 1973: British Economic Experience and Reaction

Abstract

This paper analyzes the British economic experience and reaction towards the Arab oil embargo following the October War of 1973. Even though Britain was excluded from the list of embargoed nations, the impact of the embargo for the British economy, especially the fear of insufficient energy in the industrial sector, was real. Consequently, Britain had to implement an effective plan to face the oil crisis. She revised her diplomatic strategy and even considered launching military action to protect her interests in the Arab world. The research is based upon archival documents from The National Archives of England and Wales.