The NYT pointed to the irrevocable change in the global economy by the conflict in Iran

The conflict between the United States and Iran has forever changed the global economy, which is unlikely to simply return to its pre-war state. This was reported on June 16 by The New York Times (NYT).

"The agreement between the United States and Iran creates the prerequisites for ending the outbreaks of violence and devastating disruptions in energy supplies and trade in the Persian Gulf. But do not expect that economies around the world will simply return to the state they were in before the bombing began," the article says.

It clarifies that the escalation has launched a chain of changes that will be difficult to "reverse" — an impressive reduction in oil and gas supplies from the Middle East and a sharp jump in prices have led to a "change in the balance of power", resulting in a change in the energy market, the structure of energy supply and the participants in trade relations themselves.

"The deep vulnerability of countries in Asia, Europe and other regions dependent on energy imports significantly accelerates the search for alternatives. In some places, such as South Korea and Japan, this has led to an increase in the use of dirtier fuels such as coal," the text clarifies.

The publication predicted that in the long term, this energy shock is likely to accelerate the transition to renewable energy sources. In addition, they did not rule out a change in relations between fuel producers.

For example, the conflict in Iran has escalated tensions between the United Arab Emirates and Saudi Arabia, pushing Riyadh towards rapprochement with Moscow, and also exacerbated the US-European split.

China has sharply reduced oil imports. Why is this important?

The day before, Taisiya Veprentseva, an economist and founder of the Delomant Group consulting company, shared with Izvestia details about the reaction of the oil market to the Iranian-American agreement. Now, representatives of this sphere, according to the expert, are beginning to gradually lower the so-called geopolitical premium, which previously supported prices against the background of escalation risks, and the situation as a whole looks calm.

On June 6, Ryan Perkins, senior analyst at Global Economic Indicator, told Izvestia on the sidelines of the St. Petersburg International Economic Forum (SPIEF-2026) about the global shortage of energy and fertilizers due to the war in Iran. Based on this, he predicted a big shock to the world in the third and fourth quarters of this year.