Eurozone & Iran

Eurozone: The Eurozone is among the hardest hit regions, experiencing a contraction in economic activity, surging input prices for factories, and weakening services industry due to the conflict.

Iran: Iran is a central party in the conflict, facing a naval blockade and economic sanctions from the United States. Its actions, including restricting the Strait of Hormuz, have caused major disruptions to global oil and gas supplies and its economy is being destroyed by the blockade.

Eurozone: The Eurozone economy experienced a sharp weakening in its private sector expansion in March, with overall demand falling for the first time in eight months, largely due to the Middle East war.

Eurozone: The Eurozone, comprising 21 European countries, is hard hit by soaring natural gas prices due to the Iran war, leading to a downgraded growth forecast.