By Admin 
Iran War Impact: This is the third week of tension in the Middle East due to the joint attack by Israel and America on Iran and the subsequent counterattack by Tehran. In this conflict, along with Iran’s oil infrastructure, its top leadership has also been targeted. US President Donald Trump has been continuously claiming that the war will end soon, but Iran’s retaliatory attacks have surprised both Israel and America.
Iran has created a stir in the entire Middle East including UAE, Bahrain and Dubai through drone attacks and is continuously targeting American military bases. In such a situation, at present there are no signs of this war ending soon.
Is recession coming?
In such a situation, the question is arising that if this war continues for a long time, what could be its consequences. According to experts, the fear of global recession is increasing. According to Neelkanth Mishra, Chief Economist of Axis Bank and Head of Global Research of Axis Capital, if the ongoing tension in West Asia continues like this for the next four weeks, then the global economy may move towards recession.
While talking to CNBC-18, he said that the disruption in global energy supply has already become a matter of concern. If the situation does not improve soon, the situation may worsen. Giving an example, he said that due to Middle East tension, about seven percent of the global energy supply has already been affected, which is a big blow to global economic development.
How is the situation getting out of control?
According to Mishra, the market has not yet fully reacted to the current situation, because companies and investors are hopeful that the situation may return to normal soon. He says that positive signs will be seen in the market only when tension reduces and uncertainty is removed. He also said that this crisis is affecting almost every sector. real
There is a shortage of construction material in estate projects, while auto manufacturing is being affected due to the shortage of carbon black and LNG. Apart from this, due to shortage of LPG cylinders, the textile industry workers of Surat are also facing a crisis. It is clear from all these facts that this crisis is not limited to the energy sector only, but it can have a wide impact on various sectors and the global economy.
Also read: Stock market crash amid Iran war, but those who bought gold and silver had fun, know how big the fall was today