The Potential Fallout of a Widening Israel-Hamas War

David Rovella
·1 min read
3

(Bloomberg) -- The war between Hamas and Israel has claimed close to 5,000 lives, according to authorities on both sides. Following the militant group’s Oct. 7 incursion into Israel, during which it killed 1,400 people while kidnapping hundreds more, Israel responded with a bombing campaign that’s killed thousands of Palestinians ahead of an expected ground invasion.

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Tensions in the region have been rising. With no end in sight, the war could draw in Iran-backed militias such as Hezbollah or even Iran itself. As US naval forces mass offshore, the potential for escalation is growing. In the Bloomberg Originals mini-documentary Middle East Shockwave, we explore where the war may go from here, and how a regional conflict would imperil the safety and livelihoods of millions of people across the region—and all over the world.

The human toll of a proxy war between Israel and Hezbollah or other militias, let alone direct conflict with Iran, would almost certainly claim more lives than if the conflict remained limited to Gaza. A secondary effect is that a likely spike in oil prices could push a global economy already battered by inflation, pandemic and Russia’s war on Ukraine into recession, hobbling struggling countries and exacerbating poverty everywhere.

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