Concerns about economics, trade, businesses and tourism is caused by the escalation of geopolitical tension in the Middle East and in particular the confrontation between Israel and Irandeclaring market executives.
As Tasos Iosifidis, a partner of EY Greece and head of Ey-Parthenon in Greece, explains to the Athens Macedonian News Agency, “At the moment we are still talking about the full impact of the Israeli-Iran confrontation and the US and the US-Iranian attack on the US and the US. From “minute to minute”. The crisis seems to be declining, as Iran has chosen a relatively mild reaction that does not directly affect the interests of the US and their allies in the region. It is noteworthy that, after the Iranian attack on US bases in Qatar, oil prices have fallen and a ceasefire was announced. “
According to him, the negative scenario would be what includes the closure of the straits of the hormone. As he notes, “the straits are the most critical maritime channel for the world oil trade, as 20% of world oil trade is distributed, including exports of Saudi Arabia, Iran, UAE, Iraq, and liquefied gas.”