Costs are skyrocketing: The Iran war is bringing Germany's small and medium-sized businesses to their knees
n-tv.de/wirtschaft/Iran-Krieg-zwingt-Deutschlands-Mittelstand-in-die-Knie-id30575594.html
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Iran Conflict Strains Europe's Industrial Middle ClassOil prices exceeding $100 per barrel cause investment freezes and potential layoffs in Germany’s SMEs during 2026.
- The Iran war has pushed crude oil prices beyond $100 per barrel, severely impacting Europe's energy-dependent industries.
- Chemical company Gechem faces increased raw material and freight costs, resulting in up to €400,000 extra expenses this year.
- Corporations like Lanxess and Evonik are announcing job cuts and struggling to fully pass on cost hikes to customers.
- Experts caution about long-term demand drops and emphasize the need for secure, affordable energy to maintain Europe's competitiveness.
First came Corona, then the Ukraine war and the energy crisis, last year Trump's tariffs, and now something else on top. You get tired and you don't know how to help yourself anymore.— Martina Nighswonger, owner and managing director of Gechem in the Palatinate region, said.
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