Baghdad – The Israel-Iran confrontation impact could send oil prices soaring to as high as $300 per barrel, Iraq has warned. Foreign Minister Fuad Hussein said the global market is at serious risk if the conflict continues unchecked.
He stressed that ongoing military tensions could disrupt oil production from Iraq and Gulf countries. As much as five million barrels per day could be lost. That drop would likely trigger a price surge, creating ripple effects throughout the global economy.
The Israel-Iran confrontation impact goes beyond oil supply. Hussein explained that skyrocketing prices would worsen global inflation. Both oil-exporting and oil-importing nations could suffer harsh financial consequences. Iraq, in particular, faces serious danger due to its reliance on energy exports.
These warnings were shared in a phone call with German Foreign Minister Johann Wadephul. Hussein also reached out to other regional diplomats. Iraq is working through diplomatic channels to prevent further military escalation.
Hussein condemned Israel’s attacks on Iran, calling them violations of international law. He said such aggression threatens neighboring countries, especially Iraq. The foreign minister urged the global community to take action before the situation worsens.
He warned that silence would only invite more instability. Without strong international pressure, the conflict could expand into a broader war. That, in turn, would deepen the economic crisis and increase global insecurity.
According to Hussein, the Israel-Iran confrontation impact is a threat no country can afford to ignore. He called for immediate diplomatic solutions to prevent further disruption in global markets. A regional war, he said, would bring both security threats and economic disaster.
According to Hussein, the Israel-Iran confrontation impact is a threat no country can afford to ignore. He called for immediate diplomatic solutions to prevent further disruption in global markets. A regional war, he said, would bring both security threats and economic disaster.
