Global Economy Faces Major Threat Because of Iran War West Asia, says IEA cheif

The head of the International Energy Agency said Monday that the global economy faces a “major, major threat” because of the Iran war. 

“No country will be immune to the effects of this crisis if it continues to go in this direction,” Fatih Birol told Australia’s National Press Club in Canberra on Monday. 

He said the ​crisis in ​the Middle ⁠East has had a worse combined



impact than the two oil shocks of the 1970s and the effect on gas markets of the Russia-Ukraine war.

His comments came as Israel launched a new wave of attacks early Monday against Tehran. 

A top American commander also told Iranians to remain in shelters for the foreseeable future, while Iran renewed strikes on its Gulf neighbors and threatened to start hitting their power plants.