War exposes global economy to uncontrollable inflation
‘War exposes global economy to uncontrollable inflation’
TEHRAN- The head of the Energy Committee of the Iran Chamber of Commerce, Industries, Mines and Agriculture stated: ‘Since the start of the American-Zionist war with Iran, we have witnessed a one percent increase in inflation in the world economy, and with its continuation, inflation will follow an increasing and uncontrollable trend.’
Arash Najafi told IRNA: “More than 35 percent of the world's fossil energy passes through the Persian Gulf. With the creation of restrictions, it seems that after a few days, the strategic reserves of China and America will face shortages.”
He continued: “Based on this approach, special demand will be created, which will consequently lead to price increases.”
The head of the Energy Committee of the Iran Chamber of Commerce, Industries, Mines and Agriculture, stating that due to this war, insurance and risk costs are imposed on countries, said: “With the continuation of America and Zionism's adventurism against Iran, other countries will not be safe from the resulting economic pressure.”
He stated: “From the beginning of the war until now, we have seen one percent inflation. If it continues, we will witness an inflationary explosion of 5 to 6 percent in the world, which will impact economic tensions not only in America and Iran but also in many countries, so that all goods, especially energy carriers and oil, will continue their upward price trend.”
Najafi emphasized: “If America cannot control inflation, it will face pressure from economic circles and corporations, as well as other world statesmen, and it will have to answer for its consequences and repercussions.”
He said that the conditions are worrying for the countries of the region, adding: “Iran has never sought to start a war, and in the current situation, it has entered the field to defend the country's territorial integrity.”
The head of the Energy Committee of the Iran Chamber of Commerce, Industries, Mines and Agriculture stressed: “China and Russia must stand behind Iran and, while defending Iran's positions in the world, compel America to agree to a ceasefire and sit at the table for a fair agreement and refrain from aggression.”
MA
source: tehrantimes.com