The crises caused by the Iran war will hit the world in four waves
Key takeaways
- The impact of the conflict will not stop at energy price hikes.
- They end when the structural damage they inflict on the global trading system finishes working its way through prices, contracts, balance sheets and political legitimacy.
- By that measure, the impact of the 1990 Gulf War, for example, lasted decades.
Why this matters: an international story with cross-border implications worth tracking.
The impact of the conflict will not stop at energy price hikes. It will spread to various sectors and last years.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on GoogleinfoТankers sail in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance on March 11, 2026 [Stringer/Reuters]If tomorrow Iran, the United States and Israel were to announce a peace deal and the Strait of Hormuz were to reopen, the war would not be over.
Wars do not end when the missiles stop flying. They end when the structural damage they inflict on the global trading system finishes working its way through prices, contracts, balance sheets and political legitimacy.