Tension in the Gulf may trigger regional economic instability and energy crisis

The Times: Iran conflict could trigger economic collapse in Gulf countries

- The US and Israel strike Iran, causing the key Qatari natural gas project Ras Laffan to halt, impacting global energy supply.

- Oil fields cannot be shut down like a tap. Crude oil continuously sprays under high pressure and must have export channels. If the Strait of Hormuz is blocked, oil exports from Iraq and Kuwait will be paralyzed.

- The Gulf countries have a very high proportion of foreign population. If a large-scale evacuation occurs due to war, the economy will directly come to a standstill.

- If Iran attacks desalination plants and grain transport routes, it could turn into a humanitarian crisis.

- Crisis winners: Russia and the United States (not dependent on the strait, can sell energy at high prices).

- Natural gas prices in Europe and Ukraine have surged, and the EU faces gas supply shortages.

Original: toutiao.com/article/1859017720293388/

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