Dr Mahmoud Mohiruddin, UN Special Envoy for Development, confirmed that the uncertainty surrounding the duration of the war and its strategic objectives is the most worrying factor in global markets at the moment, indicating that the impact of the crisis is not limited to energy supplies, but rather extends to wider sectors of the regional and global economy.
“The economic impact scenario will depend on the duration of the war. Will it be a war of days, or weeks, or will it last longer,” Mohideen said in an interview with Al Arabiya Business.
ambiguous scenario
Mohideen said the stated goal has shifted from weakening Iran’s nuclear capabilities to talk of changing the top government and then the regime itself. These issues are, of course, related to deadlines that are not yet clear.
He added: “Markets are still counting on US President Donald Trump’s ability to end the war and announce achievement of his goals, even if he stops it at this stage, but this scenario is still shrouded in ambiguity.”
gulf economies
Regarding the importance of the Gulf countries, he explained that in addition to the flow of major products such as aluminum, as well as gold and silver, which have decreased significantly in recent years, the Gulf region has become the center of the region in multiple sectors such as logistics, travel, and services.
He also pointed out that the services of some technology companies and databases have been affected as a result of developments in the region, reflecting the intertwining of influences and impacts beyond the oil and gas sector.
