The situation in the Middle East represents a negative framework for Italy, which, like its European partners, is a mere spectator watching a conflict that it does not endorse.
Italy is both an exporting nation, sensitive to global economic cycles, and a country characterised by its dependence on fossil fuels, with Italian electricity production largely powered by natural gas.
Both the rise in gas prices and a slowdown in global trade pose a dangerous economic pincer for Italy. This widely shared assessment within the Italian political class underpins Italy’s critical stance towards the conflict.
