Protracted War in Iran Could Pose ‘Substantial’ Shock to European Economy
7 Articles
7 Articles
European Commissioner Valdis Dombrovskis fears that the "disruption of maritime traffic in the Strait of Ormuz" and the "attacks against the energy infrastructure of the Gulf States" will lead to high inflation combined with low growth.
Economic observers fear that the conflict in Iran and the Middle East will lead to a new oil shock, as in the 1970s.
European Union (EU) Economic Affairs Commissioner Valdis Dombrovskis has warned of an "inflationary shock" to the European economy if the war in the Middle East drags on.
"In the most benign scenario, where the conflict is contained in a couple of weeks, it can be expected that it will not have a significant impact on the world and European economy," Dombrovskis reflected, in statements to the press on his arrival at the meeting of Eurozone Economic and Finance Ministers (Eurogroup) in Brussels.
The war inflaming the Middle East began nine days ago. On Monday, March 9, 2026, Israel continues its incursions into southern Lebanon, the price of the barrel of oil continues to fly, the son of Ali Khamenei...
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