Newscast What’s The Economic Cost Of The War In Iran?
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Mar 9, 2026 
Siavash Ardalan, BBC World/Persian reporter with deep knowledge of Iranian politics; Katya Adler, BBC Europe editor offering geopolitical perspective; Dharshini David, deputy economics editor on global markets. They discuss the oil price surge past $100, how that pressures inflation and households, Europe's political and strategic dilemmas, and the implications of Mojtaba Khamenei’s rise for stability and markets.
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Oil Price Shock Raises Mortgage Costs Indirectly
- Rising oil prices feed into mortgage and borrowing costs via bond markets, not just pump prices.
- Dharshini David notes bond-market moves push up fixed mortgage rates, recalling the mini-budget spike effect on households.
Energy Cap Delays Household Pain But Hurts Businesses First
- Domestic energy price caps delay household pain, shifting early impacts onto businesses and travel costs.
- Darshini explains the UK energy cap runs until end of June, so firms feel higher input costs first, pushing up airfares and business prices.
European Unity Strained By Competing National Interests
- Europe faces simultaneous geopolitical shocks driving fragmentation among allies and trade-offs between principles and national interests.
- Katya Adler contrasts Spain and Germany's differing legal responses and how trade ties shape national reactions.