US EditionMilei Cheers Economic Benefits of Iran War for Argentina
Rising oil above $100 per barrel and higher grain prices amid Iran conflict are expected to improve Argentina's export revenue and boost foreign currency reserves, Milei said.
- From New York during Argentina Week, President Javier Milei told investors the Iran conflict will boost exports, saying 'Argentina, in this context, will see an improvement in its terms of trade because oil prices are rising, and Argentina is a net exporter'.
- The Iran strikes and counterattacks have driven oil prices higher amid the 10-day-old conflict following United States and Israel’s attacks on February 28 and Tehran’s retaliation.
- The country’s export mix, with agriculture dominant, amplifies price gains as Argentina’s Vaca Muerta gas and shale oil fields underpin recent oil production increases and the agricultural sector accounts for more than 60 percent of foreign sales.
- Milei said the windfall could rebuild reserves under the $20 billion IMF deal, as higher export revenues could help Argentina build foreign currency reserves, Milei said.
- Threats to Gulf shipping lifted energy and farm markets, with oil prices topping US$100 a barrel on Monday and last week’s Chicago grain market moves reaching high levels for wheat and soybeans.
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Last week the Chicago grain market closed with rises: wheat reached its highest level in a year and soy peaked since June 2024, according to the Argentine Ministry of Economy.
Buenos Aires, Argentina. Argentine President Javier Milei said this Monday that the war in the Middle East will generate “an improvement” in the oil and agricultural exports of Argentina, which can favor the accumulation of foreign exchange reserves.The Israeli-American attacks on Iran initiated ten days ago, and the Iranian retaliation to different countries of the Arabian peninsula, triggered the price of oil, which this Monday exceeded $100 p…
Argentinian President Javier Milei said this afternoon that the war in the Middle East will generate a "best" in Argentina's exports of oil and agricultural products, which could promote the accumulation of foreign reserves. Israel and the United States' attacks against Iran, which began ten days ago, and the Iranian occupation against several Arab Peninsula countries, raised the price of oil, which this afternoon exceeded $100 (about $521) per …
The war in the Middle East has an immediate impact on the raw materials used by farmers, especially those producing cereals. A new blow comparable to that experienced during the war in Ukraine more than four years ago.
Radio France Internationale
Milei cheers economic benefits of Iran war for Argentina
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