A senior United Nations official, Abdallah Al Dardari, has said that the recent conflict involving the United States, Israel, and Iran has caused huge economic losses for Arab countries. In just one month, the total damage is estimated at around $186 billion.
According to him, Gulf countries are facing the biggest losses in their economies, especially in terms of reduced GDP. Countries in the Levant region are also experiencing serious economic difficulties as the conflict continues to affect trade, business activity, and overall stability.
One of the major impacts of the conflict is the disruption of the Strait of Hormuz, which is a key route for global oil transportation.
Around one-fifth of the world’s oil supply usually passes through this route. Its disruption has slowed down oil shipments and created a major energy crisis, particularly in Asian markets that depend heavily on these supplies.
The economic effects are being felt by millions of people across the region. Jobs are at risk, businesses are struggling, and many families may fall into poverty as conditions worsen. Rising costs and limited economic activity are adding to the pressure on already vulnerable populations.
Officials are now urging countries to focus on economic diversification. They believe reducing dependence on oil and investing in other sectors can help protect economies from such shocks in the future.
The situation highlights how regional conflicts can quickly turn into global economic challenges, affecting not only governments but also everyday lives across multiple countries.
