IEA Warns: Iran War Threatens Global Economy

0:00On March 23rd, the head of the International Energy Agency warns that the ongoing war in Iran poses a major threat to the global economy. Fati Barol says no country will escape the fallout if the conflict drags on. He compares the crisis to the oil shocks of the 1970s and the gas disruptions from the Russia-Ukraine war, calling this one even worse. Already, 40 energy assets in nine countries across the region have suffered severe damage. World leaders are reacting with urgency amid fresh attacks. Israel struck targets in Tehran, early Monday, while a top U.S. commander urged Iranians to stay in shelters. Iran has hit back at Gulf neighbors and threatened their power plants. The situation escalated further as Iran tightens control over the strait of Hormuz. U.S. President Donald Trump issued a 48-hour deadline for Tehran to reopen the vital shipping route, warning of strikes on Iran's power. Plants, if they refuse. Barol says the agency will closely monitor energy markets and consult member countries before taking action as the world braces for wider impacts.

1:06From around the world, powered by AI, this is Global News Today. I'm Kori with the story.