The Iran war is causing “significant damage” to global production and supply chains, Russian President Vladimir Putin has warned, saying there are assessments that it could be as serious as the Covid-19 pandemic.
Speaking at the annual Congress of the Russian Union of Industrialists and Entrepreneurs earlier today, Putin said the consequences of the conflict in the Middle East are difficult to accurately predict. “I believe those involved in the conflict themselves can’t predict anything, but for us, it’s even more difficult,” he said.
“The armed conflict in the Middle East is making an increasingly significant contribution to the current situation and causing significant damage to international logistics, production, and supply chains,” the Russian leader said. “Entire industries associated with the extraction and processing of hydrocarbons, metals, fertilizers and many other goods are under attack.”
Putin said there are assessments that the consequences of the conflict could be compared to the Covid pandemic, which threw the global economy into disarray for years. “And that, let me remind you, has sharply slowed the development of every region and continent without exception,” he said.