STOCKHOLM, March 27. /TASS/. The economic impact from the Middle East conflict could outweigh the consequences of the COVID-19 pandemic and even lead to a global recession, Finnish President Alexander Stubb warned in an interview with Politico.
"I think we’re now in a situation whereby this could be a self-inflicted global recession. It shows you what happens when you act outside the framework of international rules and norms," the Finnish leader said. "What we’re seeing now is the demise of international institutions or rules exactly at a time in history when we need them more than ever," he continued.
According to Stubb, the transactional approach of the administration of US President Donald Trump does not work in foreign policy. "Diplomacy is rarely a transaction, I mean, interest can be transactional, but even then, you should find mutual interest," he argued.