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economicAug 11, 2026

Consequences of US war against Iran to cost German households €16.8 billion — report

Summary

BERLIN, August 11. /TASS/. The economic repercussions of the US and Israeli conflict with Iran are projected to impose a €16.8 billion burden on German households, with the nation's poorest populations bearing the brunt of the income decline, according to a report by the Munich-based Ifo Institute for Economic…

Source: CurrentsAPI — Read the full report

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  • CurrentsAPI

    BERLIN, August 11. /TASS/. The economic repercussions of the US and Israeli conflict with Iran are projected to impose a €16.8 billion burden on German households, with the nation's poorest populations bearing the brunt of the income decline, according to a report by the Munich-b…

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Iran’s Islamic Revolutionary Guard Corps Navy reported late Saturday that two oil tankers were burning after striking naval mines in and near the Strait of Hormuz. The IRGC stated that the vessels had switched off their navigation and positioning systems and attempted to use an unauthorized route.

The group accused both ships of multiple violations, specifying that one was hit east of the strait and the other inside it.

Location: Strait of Hormuz