Economic fallout<\/p>\n
Beyond disruptions to shipping, strikes on production facilities in the gulf have significantly affected oil refineries, aluminium plants and data centres among others, while air traffic remains below pre-war levels, impacting tourism and business flowing through the region.<\/p>\n
On another level, the war has shaken gulf hubs’ reputation as safe havens.<\/p>\n
Qatar and Kuwait’s economies are set to shrink by just over eight per cent this year, according to a Reuters poll, while Saudi Arabia’s economy will expand by 1.4 per cent, after 4.5 per cent growth in 2025.<\/p>\n
Qatar, one of the world’s top liquefied natural gas exporters before the Iran war, relies wholly on the strait to export LNG and also faces massive production shortages due to damage to its energy facilities.<\/p>\n
Kuwait Petroleum Corporation is in discussions with Saudi Arabia and the UAE to expand their pipeline systems to accommodate its oil shipments. Iraq is working to expand its oil exports through Turkey’s Ceyhan port and aims to begin exporting oil through ports at Syria’s Baniyas and Jordan’s Aqaba, involving new pipelines<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Economic fallout Beyond disruptions to shipping, strikes on production facilities in the gulf have significantly affected oil refineries,…\n","protected":false},"author":2,"featured_media":160782,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[26],"tags":[73403,33466,34,94,654,35,5905,1738,39,46663,271,1000,50,101,95,1176,272],"class_list":["post-267990","post","type-post","status-publish","format-standard","has-post-thumbnail","category-persian-gulf","tag-ad-ports-group","tag-dp-world","tag-iran","tag-iraq","tag-jordan","tag-kuwait","tag-kuwait-petroleum-corporation","tag-mena","tag-persian-gulf","tag-port-of-ceyhan","tag-qatar","tag-red-sea","tag-saudi-arabia","tag-strait-of-hormuz","tag-syria","tag-turkey","tag-united-arab-emirates"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/117172977267976832","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/267990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=267990"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/267990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/160782"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=267990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=267990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=267990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}