Global Crisis Triggered by Iran War: Consequences Will Linger for Years.

Iran War and Its Fallout

According to TSN.ua: Now in its fifth week, the conflict in Iran has sparked a worldwide economic crisis whose repercussions are expected to persist for years. Oil price surges and supply disruptions are already being felt across numerous nations, threatening the food security of millions. Projections indicate that if the fighting continues beyond June, 45 million people could face acute food shortages by 2026.

The closure of the Strait of Hormuz by Iran—which has halted roughly one-fifth of global oil flows—has further intensified the crisis. This has driven up fuel costs in the Philippines, where 98% of oil imports come from the Gulf states. In Nigeria, gasoline prices have jumped by 50%, raising alarm among consumers. Additionally, nearly one-third of the world’s fertilizer trade passes through the Strait of Hormuz, a factor that will also impact agriculture.

Christine Lagarde stated that 'too much has already been damaged and there is no way to restore energy supplies to the Persian Gulf anytime soon.'

Moreover, expert Máximo Torero warned that if the situation persists beyond the next two weeks, 'the scenario will be far more severe than what unfolded at the start of the Ukraine war.'

Impact on Agriculture

The fertilizer production crisis triggered by the conflict could have serious consequences for farming, especially in regions already struggling with resource shortages. The effects of the Iran war continue to cause international concern, and there is still no clarity on how long this crisis will last.

The situation in Iran and its global economic implications highlight the growing fragility of worldwide supply chains, particularly in the energy and agricultural sectors. The blocking of the strategically vital Strait of Hormuz underscores the risks tied to politically unstable regions and places food security in jeopardy for many countries. As the number of people suffering from hunger could rise, the international community faces an urgent need to respond to these challenges.