BEIJING, March 20. /TASS/. The US and Israeli strikes against Iran and conflict escalation in the region threaten the global economy with unpredictable adverse consequences, said Liu Zhongmin, a professor at the Middle East Studies Institute of the Shanghai International Studies University.
"While concerns previously focused on the security of shipping through the Strait of Hormuz, the situation now threatens not only transportation but also production. Strikes on gas fields and oil production facilities could put both energy production and transportation at risk simultaneously, with potentially immeasurable consequences for the global economy," the professor said, cited by Global Times newspaper.
"Before the death of Ali Larijani (Secretary of Iran's Supreme National Security Council - TASS), Iran still appeared to leave some room for compromise and had signaled a desire to end the conflict soon. The Trump administration had also indicated willingness to end the war at an appropriate time, suggesting that both the US and Iran do not want the conflict to escalate into a full-scale war," the expert noted.
Earlier exchanges of strikes between the US, Israel and Iran were largely aimed at military targets, with only limited spillover damage to civilian facilities and infrastructure, Liu stressed. "Now, however, the Middle East's economic lifelines are becoming direct targets," he added.