"The last pre-war shipments of Middle East oil have yet to reach their destinations, and the second and third-order effects of the crisis - stunted crops and factory blackouts - have yet to hit."
"Those 'will arrive in the same way the pandemic's economic effects did, slowly and then all at once.'"
The Iran war is significantly disrupting daily life worldwide, leading governments to take action against the energy crisis. The European Commission has recommended remote work and reduced travel. Several Asian nations have shortened work and school weeks. South Korea is promoting quicker showers and considering driving restrictions, while Egypt has mandated early closures for stores and restaurants. The full impact of the crisis, including effects on crops and factories, is expected to manifest gradually, similar to the economic repercussions of the pandemic.
Read at Semafor
Unable to calculate read time
Collection
[
|
...
]