Finland President Alexander Stubb warned that the economic consequences of the escalating Iran conflict could be greater than the impact of the Russia-Ukraine war. Speaking in Mumbai, he said the situation is escalating rapidly and could affect global trade, energy prices and economic stability.

Mumbai, Mar 7: Finland President Alexander Stubb on Saturday said the economic fallout of the ongoing Iran war could potentially exceed the global impact of the Russia-Ukraine war and asserted the situation was escalating at an "uncomfortable" pace.

Escalating conflict raises global economic concerns

Addressing the Finland-India Business Summit, Stubb said US President Donald Trump made his strategic assessment in Iran after feeling "empowered" following what he did in Venezuela but it has turned out to be "more complicated". He also said the killing of Ayatollah Khamenei will have an effect.

While asserting that for Finland the key war to end right now is the one between Russia and Ukraine, he said the conflict involving Iran, US and Israel "is escalating at a pace which I feel is very uncomfortable".