Rome, 31 March. (LaPresse) – "Exports through the Strait of Hormuz have almost stopped and significant damage to production and refining infrastructures is emerging. Even in the event of a rapid cessation of hostilities, the return to orderly conditions in the energy market would require no short time." Thus the governor of Bank of Italy, Fabio Panetta, in his report to the ordinary meeting of participants. "The most immediate effect of the" Iranian "conflict was a sharp increase in gas and oil prices, with a consequent weakening of growth prospects and new inflationary pressures. More generally, a context of high uncertainty is consolidated, likely to continue beyond the acute phase of the conflict" adds the leader of the Bank of Italy.
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