Global Living Costs Surge for One Billion Amidst War Against Iran

According to the International Desk of Webangah News Agency, data released by Mehr News Agency, citing the United Nations Conference on Trade and Development (UNCTAD), reveals that 65 out of 75 vulnerable global economies, including least developed countries and small island developing states, are reliant on oil imports. Consequently, the surge in energy prices will inevitably lead to increased living costs for approximately one billion individuals. The military incursions by the United States and the Zionist regime into Iranian territory on February 28, 2026, caused significant disruptions to maritime traffic in the Strait of Hormuz, resulting in global shortages of fuel, energy, and various other products.