https://arab.news/4vh2j
The Iran war has already badly affected many sectors across the world, from international politics to a potential global economic crisis. It has also revealed some miscalculations over the Ukraine war.
The Iran war is fueling a new energy crisis in Europe, meaning countries will have to choose between Russian energy and their commitment to Ukraine. Europe’s energy costs have soared since the start of the war, with oil prices rising to above $100 a barrel.
This is already affecting their economies. The UK’s natural gas price soared by more than 20 percent due to last week’s attack on Qatar’s Ras Laffan liquefied natural gas complex. Since the start of the Ukraine war, the UK and Europe have become more reliant on LNG. Energy bills are expected to rise by up to £300 ($400) this summer if the conflict in the Middle East continues. This is a potential nightmare for ordinary citizens.
Despite their contributions to Ukraine, EU states have returned to the point they were at when the war started
