The fiscal measures were deployed to counter the impact of the U.S.-Israeli military aggression against Iran, which disrupted shipping through the Strait of Hormuz, Bruegel reported.
The disruption of the strategic waterway hit global supply chains for fuel, petrochemicals, and fertilizers, driving up costs worldwide.
Iran has said it is prepared to guarantee safe passage through the strait under required security protocols if a durable ceasefire and an end to the war are achieved.
MNA
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