1/6/2020, 1:15 PM (Source: TeleTrader)
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Moody's: Iran tensions increasing economic risks

Tensions between the United States and Iran are increasing risks to the global economy, Moody's Investor Service said in a report on Monday. The agency noted that it still assumes that Washington and Tehran will "avoid outright military conflict," but stressed that the current situation definitely introduced new uncertainties, especially within the oil and gas industries.

Moody's stated: "A lasting conflict will have wide-ranging implications through broad economic and financial shock that significantly worsen operating and financing conditions. Damage to crucial infrastructure and the temporary disruption of trade will affect non-financial companies." Hydrocarbon producers could especially be hit, the agency noted.

Relations of the US and Iran worsened further after the killing of top Iraninan military official Qassem Soleimani in Iraq.

Baha Breaking News (BBN) / VP