America started a war. The economic pain will be borne by countries that never asked for it
Airfind news item
By Allison Morrow
Published on March 20, 2026.
The war in Iran has caused economic damage to countries that never requested it, including Pakistan, India, and the United States, according to economists. The economic shock intensified after Iran struck Qatari hubs for liquefied natural gas in retaliation for Israel's attack on Iran’s South Pars facility. The American economy is likely to be affected less due to its world-leading domestic oil and natural gas production. However, the development of fracking and a move away from fossil fuels has created a buffer for the US economy to absorb the oil and energy shock. South Korea recently imposed its first wholesale fuel price cap in 30 years, and Bangladesh reported widespread natural gas rationing. China, Asia's largest economy, may be more insulated than its neighbors, despite being the biggest buyer of Iranian oil and about half of its crude imports pass through the Strait of Hormuz. The loss of Qatari supplies is driving global gas and power prices to Europe, where at least 11 global gas tankers have been rerouted.
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