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بوابة الفجر
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US-Iran Conflict's Regional Economic Impact
The economic expert Dr. Faraj Abdullah confirmed that the tension between the United States and Iran has intensified the energy crisis in Europe, which was already struggling since the start of the Russian-Ukrainian war. He explained that the United States exploited the decline in oil prices following the COVID-19 pandemic to build up a large reserve, then took advantage of rising prices to make profits, given that the cost of extracting American oil exceeds $60 per barrel. He also mentioned that these tensions have led to long-term economic impacts, and Europe is working on implementing plans to reduce its dependence on traditional energy sources through projects such as electrical interconnection with countries like Egypt. However, these efforts will take time before results are seen.
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