Russian President Vladimir Putin, speaking to business leaders in Moscow, emphasized that the consequences of the conflict in the Middle East remain difficult to predict, however some assessments compare the potential impact to that of the COVID-19 pandemic, highlighting the pressures already being exerted on critical sectors of the global economy. Meanwhile, the Russian president stressed that the escalation of tensions in the Middle East is causing significant disruptions to the global economy, affecting international transportation, production and supply chains. According to him, the developments are creating intense pressure on companies operating in the hydrocarbons, metals and fertilizers sectors, reinforcing market uncertainty.
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Putin: “The consequences can be compared to the coronavirus pandemic”
“The consequences of the Middle East conflict remain difficult to predict accurately,” stated the Russian president, emphasizing the high level of uncertainty that characterizes the current geopolitical situation. As he noted, even the parties involved are not in a position to clearly assess how the situation will develop.
“It seems to me that those involved in the conflict cannot predict anything themselves, but for us it is even more difficult,” he said characteristically. Putin added that assessments are already being made suggesting that the crisis’s impact may be comparable to that of the coronavirus pandemic, which had caused significant slowdown in economic growth worldwide.
“However, there are already assessments that the consequences can be compared to the coronavirus pandemic,” he noted, reminding that the pandemic “dramatically slowed down the development of all regions and continents, without exception.”
