WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen warned of the potential economic fallout from tensions in the Middle East and pledged that her country and allies will not hesitate to use their powers to apply sanctions once morest “malign activity.” and destabilizing” of Iran.
Speaking ahead of the IMF and World Bank meetings, Janet Yellen said Iran’s attack on Israel “underscores the importance of the Treasury Department’s work to counter Iran’s malign activity.”
“From the weekend attacks to those by the Houthis in the Red Sea, Iran’s actions threaten the stability of the region and would generate economic repercussions,” he added.
The Iranian attack on Sunday came in response to — according to Tehran — an Israeli airstrike once morest the Iranian consulate in Syria a few days earlier. Israel’s military chief said Monday that his country will respond to the attack, as world leaders have called on Israel not to retaliate and not fall into a spiral of violence.
As the IMF and the World Bank begin their meetings, tensions between Iran and Israel and what an escalation of the conflict might mean for the world economy are at the top of their agenda.
Both countries have been on a collision course during the six months of Israel’s war once morest Hamas in Gaza. The war broke out on October 7, when Iranian-backed militants attacked Israel, killing regarding 1,200 people and taking regarding 250 hostage. The subsequent Israeli offensive in Gaza has caused widespread devastation and killed more than 33,000 people, according to the Palestinian authorities.
“We have taken action once morest 500 individuals or entities linked to terrorism or terrorist financing by the Iranian regime and its affiliated militias since the beginning of the administration,” Janet Yellen said, citing sanctions once morest drone and missile programs and once morest extremist groups.
CutIsrael Growth
The IMF cuts growth for Israel and stops providing data on Gaza and the West Bank
They stop publishing data
The International Monetary Fund (IMF) cut the economic growth prospects for Israel by 1.4 points in 2024 and stopped publishing data on the West Bank and the Gaza Strip, due to the war in the second of those Palestinian enclaves.
Strong reduction
The organization estimates that the Israeli gross domestic product (GDP) will grow 1.6% this year, which represents a sharp reduction compared to the 3% it had predicted in its report from October last year, before the recent conflict with Hamas began. .
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2024-04-26 07:24:34
