US Strikes Escalate Israel-Iran Conflict: A Global Economic Threat

The ongoing Israel-Iran conflict took a dramatic turn after the US launched airstrikes on three major Iranian nuclear sites. This military intervention by Washington has escalated an already tense situation, as experts warn of potential global economic consequences.

The strategic airstrikes targeted Fordow, Natanz, and Esfahan, leaving Iranian nuclear facilities in devastation, with US President Donald Trump declaring their total obliteration. The incident has raised concerns about a possible radiation leak, though initial reports from the International Atomic Energy Agency (IAEA) indicate no increase in off-site radiation levels.

Experts highlight the risk of Iran retaliating by closing the Strait of Hormuz, a critical oil transit route. Such a move could severely disrupt global oil supplies and inflate prices, affecting economies worldwide, including India. With the region at a critical juncture, pressure mounts on international players to facilitate de-escalation.

(With inputs from agencies.)