Central Bankers Warn U.S.-Iran War Threatens Global Economy

Disruptions to energy markets and supply chains pose significant risks, officials say.

Apr. 18, 2026 at 11:05am

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An abstract illustration featuring sharp-edged geometric shapes in dark grays, blues, and reds, conveying a sense of volatility and uncertainty in the global economy.Geometric abstraction reflects the instability and economic risks posed by the escalating U.S.-Iran conflict.Washington Today

Central bankers and policymakers warned that the ongoing U.S.-Iran war is already affecting global inflation and growth, with energy market volatility and supply chain disruptions posing significant risks to the world economy. Speaking to CNBC during the IMF and World Bank meetings in Washington, DC, more than 30 officials said the conflict, now in its eighth week, has created uncertainty that is weighing on the global outlook.

Why it matters

The U.S.-Iran war has evolved beyond its original military objectives into a struggle over global energy infrastructure, with both sides using economic coercion as a strategic tool. The targeting of energy facilities and maritime routes has turned the Persian Gulf into a central theatre of conflict, raising alarms about the resilience of international energy systems.

The details

Policymakers highlighted that disruptions to shipping through the Strait of Hormuz, a critical chokepoint for about one-fifth of global oil and liquefied natural gas flows, have contributed to oil price surges above $120 per barrel during the war's initial phase. This volatility has triggered concerns about broader financial market instability and the economic fallout from prolonged Gulf instability.

  • The U.S.-Iran war is now in its eighth week.

The players

CNBC

A major American business news television channel that conducted interviews with over 30 central bankers and policymakers during the IMF and World Bank meetings in Washington, DC.

IMF

The International Monetary Fund, a global organization that promotes financial stability and economic growth.

World Bank

A global development institution that provides loans and grants to improve living standards in developing countries.

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The takeaway

The U.S.-Iran war has become a broader geopolitical and economic conflict, with the targeting of energy infrastructure and supply chains posing major risks to global financial stability and growth. Policymakers are deeply concerned about the potential for prolonged stagflation and disruptions to international energy security.