Iran and the Global Economy
The escalating confrontation between the United States and Iran over the latter’s nuclear program has triggered much debate about what actions should be taken to ensure that Iran does not develop a nuclear weapon. How might certain actions against Iran affect the global economy? FAS released the results of a study, “Sanctions, Military Strokes, and Other Potential Actions Against Iran” which assesses the global economic impact on a variety of conflict scenarios, sanctions and other alternative actions against Iran. FAS conducted an expert elicitation with nine subject matter experts involving six hypothetical scenarios in regards to U.S. led actions against Iran, and anticipated three month cost to the global economy. These scenarios ranged from increasing sanctions (estimated cost of U.S. $64 billion) to full-scale invasion of Iran (estimated cost of U.S. $1.7 trillion).
The United Kingdom is modernizing its stockpile of nuclear weapons and delivery systems, as detailed today in the Federation of American Scientists latest edition of its Nuclear Notebook, “United Kingdom Nuclear Forces, 2024”.
FAS believes the resolution is a necessary advancement of scientific understanding of the devastating consequences of a nuclear war.
The U.S. should continue its voluntary moratorium on explosive nuclear weapons tests and implement further checks on the president’s ability to call for a resumption of nuclear testing.
To help protect U.S. critical infrastructure workers, the next presidential administration should ensure ample supplies of high-quality respiratory personal protective equipment.