Energy War Could Collapse Global Economies, Qatar Minister Warns

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Qatar's energy minister warned of serious repercussions from the ongoing war in the region, indicating that its continuation could lead to widespread economic turmoil that might even threaten the world's economies.

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The closure of the Strait of Hormuz, one of the most sensitive points of the world's energy sector, has so far led to a sharp increase in the prices of gas and oil and their products. However, the impact could be much wider. Qatar's Energy Minister Saad al-Kaabi warned that the ongoing conflict could bring down the world economy. He expects that in the near future, in addition to Qatar, which has stopped exporting LNG, other countries will also …

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Minister of Energy of Qatar Saad al-Kaabi said it could last “weeks or months” until energy exports return to normal levels, even if the war ended immediately, in...