May 2nd: Impact of US-Iran War on International Economy, Financial Markets, and Livelihoods
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The US-Iran war has significantly impacted the global economy and financial markets. Japan made its first purchase of Russian crude oil after the Strait of Hormuz blockade, while US low-cost airline Spirit Airlines ceased operations due to soaring fuel prices. Iran faces severe inflation and unemployment, prompting the US to impose new sanctions targeting Iran's financial networks.