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2026-09-18 12:00:10
[UN Economic and Social Commission for Western Asia: US-Iran War Costs Arab Economies Approximately $150 Billion in First Month, Equivalent to About 4% of Regional GDP] (1) Rania al-Mashat, Executive Secretary of the United Nations Economic and Social Commission for Western Asia, stated that the war between the United States and Iran has cost Arab economies approximately $150 billion in just the first month, equivalent to about 4% of the region's GDP. (2) She stated that the threats to navigation in the Strait of Hormuz and the Bab el-Mandeb Strait not only affect security but also trade, economic stability, and access to basic commodities; approximately 25% of global seaborne oil trade and 19% of liquefied natural gas trade pass through the Strait of Hormuz. (3) The Gulf states are also major exporters of ammonia, fertilizers, sulfur, and aluminum. (4) Mashat warned that the conflict could delay investment and economic diversification processes throughout the Arab world. (5) She called for measures to prevent the war from escalating, to uphold freedom of navigation, and to strengthen regional preparedness for further disruptions to basic supplies and services.
