On the Iran War’s Global Economic Effects

On the Iran War’s Global Economic Effects

From CFR On the Record by Council on Foreign Relations

June 5, 2026 · 59 min

About this episode

Panelists discuss the geoeconomic consequences of the Iran war and its impact on global markets.

On this episode, panelists provide an update on the geoeconomic consequences of the Iran war and the crisis in the Strait of Hormuz, including disruptions to oil, gas, and other commodity markets, and the longer-term implications for the petrodollar system and the energy transition. Host: Edward Fishman, Senior Fellow and Director of the Maurice R. Greenberg Center for Geoeconomics, Council on Foreign Relations Speakers: Daniel H. Yergin, Vice Chairman, S&P Global; CFR Member Helima Croft, Managing Director and Global Head of Commodity Strategy, RBC Capital Markets; CFR Member Mallika Sachdeva, Managing Director, Head of FX Thematics, Deutsche Bank Research Want more comprehensive analysis of global news and events sent straight to your inbox? Subscribe to CFR’s Daily News Brief newsletter. To keep tabs on all CFR events, visit cfr.org/event. To watch this event, please visit it on our YouTube channel: How the Iran War is Remaking the Global Economy

People in this episode

Host: Edward Fishman

Guests: Daniel H. Yergin, Helima Croft, Mallika Sachdeva

Topics covered

  • Iran war
  • geoeconomic consequences
  • oil market disruptions
  • energy transition
  • petrodollar system
  • commodity markets

Keywords

  • Iran war
  • geoeconomics
  • oil prices
  • energy policy
  • commodity markets
  • petrodollar
  • Strait of Hormuz

Mentioned in this episode

Organizations: Council on Foreign Relations, S&P Global, RBC Capital Markets, Deutsche Bank Research

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