Closing Up to this point:
Fatih Birol warns West Asia war has severely damaged energy resources, threatens Strait of Hormuz routes and poses a serious world economic system and energy crisis chance.
The IEA chief warned that the economic consequences would possibly possibly possibly well additionally lengthen some distance beyond the plot if the realm worsens.
The head of the Global Vitality Agency (IEA) has said that the intensifying war in West Asia is inflicting critical atomize to critical energy infrastructure and elevating alarms about its doable affect on the world economic system.
Talking on the Nationwide Press Club in Australia’s capital, Canberra, on Monday, Fatih Birol acknowledged that the war has already induced in model destruction to energy products and services at some point soon of the plot, describing the realm as “very severe.”
“At least forty… energy assets in the region are severely or very severely damaged across nine countries,” Birol acknowledged, AFP reported.
The disruption has heightened fears that the war would possibly possibly possibly well additionally evolve into a broader world energy shock, in particular as tensions around key transport routes continue to escalate. Per the IEA chief, the size of the disruption has raised the chance of a prolonged energy crunch, potentially marking one of essentially the most foremost crises in a long time if the war continues and key offer routes remain below threat.
Analysts and policymakers are closely staring at developments shut to the Strait of Hormuz, a without a doubt critical corridor for world oil and gas shipments, amid concerns that prolonged instability would possibly possibly possibly well additionally additional tension offers.
The Government Director of IEA warned that the economic consequences would possibly possibly possibly well additionally lengthen some distance beyond the plot if the realm worsens.
“The world economic system is facing a serious, major threat this present day, and I very noteworthy hope that this bellow will most likely be resolved as quickly as imaginable,” he added.
He stressed that the fallout from the crisis would not remain limited to countries directly involved in the conflict, calling for coordinated international action to stabilise the situation.
“No country will be immune to the effects of this crisis if it continues to go in this direction. So there is a need for global efforts,” he acknowledged.
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Canberra, Australia
First Published:
March 23, 2026, 09:17 IST
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