May 20: Impacts of the US-Iran War on the International Economy, Financial Markets, and Livelihoods
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In response to the US-Iran war, the UN has downgraded its 2026 global economic growth forecast to 2.5%, citing renewed inflationary pressures and heightened uncertainty from the Middle East crisis. Meanwhile, South Korea's Foreign Minister confirmed that a South Korean oil tanker is passing through the Strait of Hormuz, the first since the war began. Reports also indicate that a US blockade has led to a backlog of Iranian oil tankers in the Persian Gulf.