The war initiated by the United States and Israel against Iran has inflicted economic losses exceeding 25 billion US dollars on global industrial businesses. A total of 279 major companies worldwide have cited disruptions in supply chains and rising fuel prices as primary consequences of the conflict, prompting them to take emergency measures. The aviation sector alone has suffered losses amounting to 15 billion dollars, while Toyota and Procter & Gamble have warned of potential profit reductions of 4.3 billion and 1 billion dollars respectively.
These insights were published in a report on Monday by news agency Reuters, based on the financial statements released by companies listed on stock markets across the United States, Europe, and Asia. According to the report, at least 279 large corporations across major global markets are implementing emergency measures in response to supply chain disruptions and increasing fuel costs attributed to the Iran conflict. Considering the rising costs associated with the war, some companies have already increased product prices while others are attempting to reduce their output.
Mark Bitzer, CEO of Whirlpool, compared the current economic downturn to the global financial crisis of 2008 during discussions with analysts earlier this month. Whirlpool has halved its annual profit forecast and announced a suspension of dividend payments. In Europe, 130 companies have lowered their profit estimates, while 61 in Asia and 59 in the United States have been similarly impacted.
The aviation sector has incurred the largest losses, with war-related expenses totaling 15 billion dollars. Additionally, the economic impact of the conflict in Iran is rapidly affecting the US economy. A separate report published by Brown University’s Watson Institute reveals that since US President Donald Trump initiated the war against Iran, American citizens have collectively spent an additional 41.5 billion dollars on gasoline and diesel fuel.
