Milivojević: Escalation of the war in Iran will lead the world into global inflation Escalation of the US-Iran conflict, leading to a drastic rise in oil prices, will result in global inflation that will impact Europe. Europe’s policy regarding Russian energy sources is seen as flawed, and there is a lack of unity within the EU on this conflict, with countries prioritizing national interests. The conflict has global implications, signaling a phase of global reckoning over spheres of influence and the formation of a new world order.

• An escalating US-Iran conflict with a drastic rise in oil prices will lead to global inflation, affecting Europe.
• Europe’s current energy policy regarding Russian resources is considered flawed and will be re-evaluated.
• The European Union lacks unity on the US-Iran conflict, with individual member states prioritizing national interests.
• Spain’s stance against using its bases for operations against Iran is based on principles of international law, peace, and disagreement with Trump’s policy of using force.
• The silence from EU officials on the legality of the strike on Iran is seen as an attempt to align with Trump and shows a subservient relationship towards the US.
• The Iran conflict has evolved beyond local or regional significance to have global implications, involving the interests of Russia and China.
• The situation signals a move towards a global reckoning over spheres of influence and the establishment of a new world order and balance of power.