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As all eyes remain on Iran, the US and the Strait of Hormuz, the global repercussions of the Iran war are becoming ever more evident. Food is an issue slowly hitting many parts: fertilisers are by products of fossil fuels, and the blocked Strait will constrain sowing seasons around the world. As regards the fuels themselves, many airlines are cutting flights as jet fuel supply is becoming a real problem.

Asia has been particularly hard hit by the war, with some 20% of its needs imported from the Gulf states. Europe imports far less, but the global shortage of oil and LNG has sent prices skyrocketing, while stocks are rapidly diminishing. At the same time, these economic hits are also pushing states in Asia and the EU to rethink their geostrategic interests in a collapsing world order, seeking to balance an ever more unpredictable - and vindictive - US with China and potentially other new alliances.

Shihoko Goto is the Vice President of Programs and Director of the Asia Program at the Foreign Policy Research Institute (FPRI), and a fascinating expert on all things Asia. Rebecca Christie is Senior Fellow at Bruegel and an expert with great insights into the economic aspects of the EU. They join Ilana Bet-El in this great conversation really unpacks these and many other implications of the war in Iran - in Europe, Asia and across the globe.

This episode was recorded on 22 April 2026

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","author_name":"Women Leaders - European Leadership Network"}