The Washington Post warned in a report that the ongoing war involving Iran is beginning to cause serious economic repercussions beyond the oil and gas markets, cautioning that the crisis could escalate into a global recession.

The report noted that the economic impact has been felt more strongly in Europe and Asia than in the United States, adding that international shipping costs and energy prices have surged amid disruptions to key maritime routes.

It added that the damage is no longer limited to fuel supplies but has spread to global supply chains, increasing the cost of transporting goods and essential commodities. Analysts warned that if the conflict continues, the crisis could evolve from a temporary disruption in energy markets into a broader global economic shock that may prove difficult to contain.

According to the report, the disruption of major waterways—most notably the Strait of Hormuz—has significantly hindered international trade, adding pressure to global inflation and threatening the stability of financial markets in the near future.

Ebrahim Al-Owainy