Tensions between Israel and Iran: How will they affect the Dominican economy?

A firefighter calls out to his colleagues at the scene of an explosion at a residential complex in northern Tehran, Iran, Friday, June 13, 2025. © AP - Vahid Salemi

The conflict between Israel and Iran could have global implications, even affecting the Dominican Republic. According to jurist and political scientist Franklin Mercado, the recent confrontation between the two nations represents an escalation that could have a significant impact on the global economy.

Mercado notes that, following Iran’s drone and ballistic missile attacks against Israel, the latter responded with an attack on Tehran.

“The world is waking up to a preemptive strike on Iran’s development system,” he told the Hoy newspaper.

View of the damage caused by the Israeli attack in Tehran, Iran, this Friday. EFE/Abedin Taherkenareh

The expert emphasizes that Israel seeks to ensure its survival by preventing Iran from developing nuclear weapons.

However, he warns that Iran has the capacity to generate a global crisis through strategic blockades. ” Iran is no small feat. It can implement a blockade that seriously affects the global economy,” he added.

Iran also possesses the world’s third-largest oil reserves, making the conflict a situation with potentially significant repercussions for international markets.

For countries like the Dominican Republic, which rely heavily on imported oil and other goods, any disruption to global supply chains could result in price increases and economic hardship.