AXIOS (Ben Geman) - The massive economic impact of the global energy crisis
Even if the Iran war ended now and the Strait of Hormuz reopened, the crisis has lasted long enough to bring a meaningful and damaging toll worldwide. Why it matters: "What began as a disruption in a key energy corridor is now feeding through the entire global economy," the UN's trade and development arm said in an analysis . Driving the news: Fresh outlooks are landing that take stock of the war's effect. - The UN expects global economic growth to slow from 2.9% in 2025 to 2.6% this year, and that's without further escalation. - It's not just about energy. Goods needed for fertilizers and much more transit the region — only right now, they don't. Threat level: Developing nations are hardest hit, though Europe is also reliant in the…
Even if the Iran war ended now and the Strait of Hormuz reopened, the crisis has lasted long enough to bring a meaningful and damaging toll worldwide. Why it matters: "What began as a disruption in a key energy corridor is now feeding through the entire global economy," the UN's trade and development arm said in an analysis . Driving the news: Fresh outlooks are landing that take stock of the war's effect. - The UN expects global economic growth to slow from 2.9% in 2025 to 2.6% this year, and that's without further escalation. - It's not just about energy. Goods needed for fertilizers and much more transit the region — only right now, they don't. Threat level: Developing nations are hardest hit, though Europe is also reliant in the…Open