The Strategist

France warns of economic consequences of escalation in the Middle East

04/16/2024 - 11:32

Global economic consequences could be severe if events in the Middle East worsen, as stated on Monday by Bruno Le Maire, the minister of economics in France.

"Whether it is the events in the Red Sea, or escalation in the Middle East, or the continuation of the conflict in Ukraine, all these geopolitical events have a strong impact on economic growth," Le Maire said.

In reaction to a recent raid on the Iranian consulate in Damascus, Iran launched several missile and drone strikes against Israel on the evening of April 14.

About 99% of the roughly 300 airborne items Iran launched at Israel overnight were intercepted by Israeli air defenses, according to Israel Defense Forces spokesman Daniel Hagari. According to Pentagon commander Lloyd Austin, US forces have stopped hundreds of missiles and drones that were heading into Israel from Yemen, Iran, Iraq, and Syria.

The operation was deemed successful by Iranian Armed Forces Chief of General Staff Mohammad Bagheri.