YAOUNDÉ, Cameroon, March 25, 2026 (BSS/AFP) - The war in the Middle East could cause the "worst industrial crisis in living memory", the head of the International Chamber of Commerce warned Wednesday. "The head of the International Energy Agency has warned that the world is facing an energy crisis more severe than the oil shocks of the 1970s," ICC chief John Denton said. "From a business perspective, we believe this could yet become the worst industrial crisis in living memory," he added, speaking on the eve of the meeting of World Trade Organization ministers in Yaounde, Cameroon. "Not only because of surging energy prices, but because industrial production itself is being disrupted and dislocated by shortages of gas and other essential inputs". Denton argued that the crisis was "a stark reminder of why a functioning, credible and responsive multilateral trading system still matters".

Source: Bangladesh Sangbad Sangstha March 25, 2026 17:03 UTC