Although all economies will feel the effects, some countries are particularly vulnerable to its consequences due to its energy structure and dependence on imported raw materials.
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Which countries are most exposed to the negative effects of the current conflict. Here is the analysis prepared by Reuters.
Europe on the brink of another energy crisis
Europe, which is still struggling with the repercussions of Russia's invasion of Ukraine, may again face difficulties in access to energy.
Germany, as the largest economy on the Old Continent, is particularly vulnerable. Their energy-based industry It has only recently started to recover from the crisis, and further problems may hinder this process. The German stimulus program announced last year has limited scope for further support due to projected budget deficits.
Italy, with one of the highest shares of oil and gas in primary energy consumption in Europewill also feel the effects of the conflict.
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In turn, in Great Britain, where electricity production largely depends on gasan increase in the prices of this raw material may cause inflationary pressure and force the Bank of England to maintain high interest rates. This, in turn, will affect borrowing costs and the situation of households.
Asia under pressure for raw materials
Japan, which imports as much as 95 percent. oil from the Middle Eastfaces a serious challenge. The Strait of Hormuz, through which most raw materials are transported, may become a flashpoint of conflict. Additionally weak yen and rising import costs deepen the country's inflation problems.
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India, the second largest oil importer in the worldwill also feel the effects of the crisis. Economists are already lowering the country's economic growth forecasts, and the local currency has reached a record low. The increase in fuel prices even affects the daily lives of residents, forcing restaurants to limit their menus.
Middle East and Türkiye: Losses at the heart of the conflict
The Persian Gulf region, although rich in oil and gas resources, does not remain immune to the effects of war. A possible closure of the Strait of Hormuz could prevent the export of raw materials, which would have disastrous consequences for countries such as Kuwait, Qatar and Bahrain.
The conflict will also affect remittances from emigrants, which constitute a significant financial injection into local economies.
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Türkiye, bordering Iran, is preparing for a potential influx of refugees and increased geopolitical tensions. The country's central bank, already struggling with inflation crises, had to halt interest rate cuts and intervene in the currency market, selling billions of dollars in reserves.
Most susceptible economies: Sri Lanka, Pakistan, Egypt
Some countries that have recently experienced economic crises are particularly vulnerable to the effects of war. Sri Lanka has introduced a public sector holiday to reduce energy costs, and public transport and educational institutions are operating at limited capacity.
Pakistan, which was teetering on the brink of economic collapse two years ago, is struggling with rising fuel prices and the need to reduce public spending. Egypt, in turn, is suffering from declining revenues from the Suez Canal and tourism, as well as rising costs of repaying dollar-denominated debt.
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The war with Iran is not only an armed conflict, but also a challenge for the global economy. The effects may be particularly severe for countries with high dependence on imports of raw materials, as well as those that are already struggling with financial crises.
