US-Israeli war on Iran threatens global economy: ICCB

The ongoing US-Israeli military conflict with Iran has emerged as one of the most serious geopolitical and economic crises since the Covid-19 pandemic, posing risks to global peace, trade, energy security and food supplies, according to the International Chamber of Commerce-Bangladesh (ICCB).
The observation was made in the editorial of ICCB’s News Bulletin for April-June 2026, released on Tuesday.
The conflict has disrupted critical energy infrastructure and raised concerns over shipping through the Strait of Hormuz, one of the world’s key oil transit routes. Rising oil and gas prices, higher freight and insurance costs and disrupted supply chains are increasing production costs and inflationary pressures globally.
The crisis could also worsen food insecurity as fertilizer prices rise, while prolonged uncertainty may discourage investment and weaken economic growth, the ICCB said.
Bangladesh is particularly vulnerable as a net importer of fuel, fertilizer and essential commodities. Higher energy and shipping costs could fuel inflation, widen the trade deficit, increase fiscal pressure and raise production costs for export-oriented industries, particularly the ready-made garment sector.
The ICCB also cited an ICC-Oxford Economics report, saying economic policy uncertainty in 2025 reduced real business investment by 1.4% across 10 major economies, equivalent to around $202 billion.