Saudi Arabia's finance chief, Mohammed Al-Jadaan, warned on Thursday that an extended conflict involving Iran could exacerbate supply chain problems, with oil flows vulnerable to further disruption.
Speaking at the FII PRIORITY Summit in Miami, Al-Jadaan made an urgent appeal for a fast resolution to the conflict to avoid deeper economic fallout. He stressed the need for coordinated action to safeguard global markets and supply lines.
"We really need to make sure we resolve the conflict very quickly and come together to do that for the global economy not to be impacted even more," Al-Jadaan said.
The minister contrasted recent developments with the post-COVID period, saying that disturbances observed in recent weeks have already outstripped the disruptions encountered after the pandemic. He warned that a continuation of current trends could produce yet more serious effects.
"What we saw in the last few weeks is an impact beyond what we have seen even post-COVID, in terms of supply chain disruption and if this continues, I think we will see even more severe impact," Al-Jadaan said.
Al-Jadaan framed his comments around the wider implications for the global economy, arguing that prompt diplomatic or political steps are necessary to prevent additional harm. He did not elaborate on specific policy measures or timelines, focusing instead on the urgency of resolving the situation.
The remarks highlight the sensitivity of oil-related supply chains to geopolitical tensions and underscore the potential for broader economic reverberations if disruptions persist. Al-Jadaan's warning at the Miami forum underscores that recent shocks have already had an outsized effect compared with the post-pandemic period and that further deterioration could heighten pressures on markets.
Observers will be watching how governments and industry respond to his call for swift action, and how developments may influence energy logistics and global economic stability in the near term.