War kills ~1,500+ in Iran, ~50+ regionally, including US troops; blocks ~20 mil. barrels of oil per day, spikes prices >$100; wipes ~$3.2T markets; adds mil. tonnes of CO₂; escalates toward potentially nuclear conflict.
Sanctions intensify currency collapse and debt distress across emerging markets; shipping costs surge through Hormuz; insurance premiums spike; aid systems strain; famine risks rise; cyberattacks disrupt infrastructure; global inequality widens, undermining long-term development and stability.