European Union: We Will Continue Working to Pressure Iran

Al-Taj News – The European Union said in a statement on Monday that it will continue working with the United States, other G7 partners, and international partners to maintain pressure on Iran, according to Reuters.

The statement, issued ahead of the G20 meeting this week, said: “The European Union welcomes efforts aimed at ensuring that Iran stops its destabilizing activities and enters into peace negotiations in good faith, as well as through additional economic pressure, including through the U.S.-led process of ‘economic exclusion.'”

The statement added: “The European Union will continue to work closely with the United States, other G7 partners, and international partners to maintain pressure on Iran and contribute to easing tensions and achieving regional stability.”

In a related context, British households face estimated financial losses of around £2,400 per household on average by the end of 2027 as a result of the economic repercussions of the war in Iran, according to an analysis prepared by the Centre for Economics and Business Research (CEBR) and published by The Guardian.

The analysis said that rising inflation rates since the outbreak of the conflict, coupled with slower wage growth, will reduce the real income of the average British household by around £1,100 during 2026, before falling by an additional £1,300 in 2027.

Thus, the total amount British households will lose from their real disposable incomes is expected to reach around £70.4 billion as a result of the repercussions of the conflict in the Middle East, according to the Centre for Economics and Business Research, an economic consultancy.