The impacts of the joint US-Israeli operation against Iran, which began on February 28, will be felt globally in ways that we cannot yet foresee. Financial markets are reacting negatively to the offensive, and the price of Brent crude oil has risen by 25% since the attack began.
Iran has also announced that it will close the Strait of Hormuz. If the blockade is effective and prolonged, the world will face a very turbulent economic outlook in the near future, and Europe will not be spared.
