France estimates Iran crisis to cost economy up to €6 billion

Moscow (ANTARA) - The crisis triggered by escalating tensions around Iran could cost the French economy between €4 billion and €6 billion (approximately Rp80.6 trillion to Rp120.9 trillion), said French Economy and Finance Minister Roland Lescure on Tuesday.

“This Middle East crisis remains highly uncertain in terms of its developments and its impact on the economy or public finances,” Lescure told RTL radio.

“We are only considering the potential losses from the crisis [to the French economy], which is still quite vague at present. We estimate the potential damage to be between €4 billion and €6 billion (approximately Rp80.6 trillion to Rp120.9 trillion),” he added.

The French government is considering various responses to the crisis, which the minister described as “precautionary measures,” but provided no specific details.

On the same day, French Prime Minister Sebastien Lecornu is expected to announce new government support measures for the economy, which will take effect in May, Lescure added.

Earlier, on 28 February, the United States and Israel launched attacks on several targets in Iran, including in Tehran, causing damage and civilian casualties.

Then, on 7 April, Washington and Tehran announced a two-week ceasefire. Subsequent negotiations in Islamabad ended without results.

Although there has been no announcement of the resumption of hostilities, the US has begun a blockade of Iranian ports.

This has prompted mediators to attempt to organise a new round of negotiations.

Source: Sputnik/RIA Novosti