https://sputnikglobe.com/20260807/us-sees-no-risk-of-world-depression-due-to-continued-middle-east-conflict---white-house-1124549117.html
US Sees No Risk of World Depression Due to Continued Middle East Conflict - White House
US Sees No Risk of World Depression Due to Continued Middle East Conflict - White House
Sputnik International
The United States does not expect the continued conflict in the Middle East to threaten the world with depression, White House National Economic Council Director Kevin Hassett said on Friday.
2026-08-07T15:28+0000
2026-08-07T15:28+0000
2026-08-07T15:28+0000
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"No, if this were to turn into something that was taking out all the oil of the Middle East, then one would have to think about something like that," Hassett told reporters at the White House, when asked whether he would agree that if the conflict continued, there could be another depression. On July 12, Iran announced the closure of the Strait of Hormuz until the end of US interference in the region, following another wave of exchanges of strikes between the parties to the conflict. The next day, Trump said the United States would become a "guardian" of the Strait of Hormuz. He also reinstated the US blockade of Iranian ports. Late on Saturday, Trump said he had canceled strikes on Iran in light of a pending settlement deal, the contours of which include opening the Strait of Hormuz and agreements on the nuclear program.
https://sputnikglobe.com/20260806/half-of-americans-believe-conflict-with-iran-will-destabilize-middle-east---poll-1124544763.html
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US Sees No Risk of World Depression Due to Continued Middle East Conflict - White House
WASHINGTON (Sputnik) - The United States does not expect the continued conflict in the Middle East to threaten the world with depression, White House National Economic Council Director Kevin Hassett said on Friday.
"No, if this were to turn into something that was taking out all the oil of the Middle East, then one would have to think about something like that," Hassett told reporters at the White House, when asked whether he would agree that if the conflict continued, there could be another depression.
Overnight into June 18, Tehran and Washington signed a memorandum to end the conflict that began on February 28. However, on July 8, US President Donald Trump announced that the ceasefire was no longer in effect, and US forces have since carried out several series of strikes on Iran. The US Central Command claimed the strikes were in response to Iranian actions against commercial vessels crossing the Strait of Hormuz. Iranian forces responded with strikes on US bases in the Middle East.
On July 12, Iran announced the closure of the Strait of Hormuz until the end of US interference in the region, following another wave of exchanges of strikes between the parties to the conflict. The next day, Trump said the United States would become a "guardian" of the Strait of Hormuz. He also reinstated the US blockade of Iranian ports.
Late on Saturday, Trump said he had canceled strikes on Iran in light of a pending settlement deal, the contours of which include opening the Strait of Hormuz and agreements on the nuclear program.
