https://arab.news/nt37f
The economic and political shock waves from the war on Iran will be felt the most in the Middle East. Outside that region, however, key parts of Europe and Asia are also being significantly affected.
Both Europe and Asia have high degrees of vulnerability, and not only because of their geographical proximity to the Middle East; both regions are also dependent on large amounts of energy imports. The list of nations with economies in which energy imports help fuel a large share of gross domestic product includes France, Germany, the UK, South Korea, India, Taiwan, Japan, and China.
To be sure, there could be some winners, too. They include large net-exporters of energy outside of the Middle East, including Norway, whose freedom to sell overseas is largely unaffected by the conflict.
However, the overall impact will be negative in the short-to-medium term, with the shocks in Europe easily the largest since Russia’s invasion of Ukraine in 2022, a war that has just entered its fifth year.
