Global debt soars, driven by government and defense spending, while the US and Israeli air offensive against Iran destabilizes energy markets and trade in the Strait of Hormuz.
![[Img # 67105]](https://empresaexterior.com/upload/images/03_2026/7947_deuda-global-record-y-crisis-en-ormuz-claves-economicas-2026.png)
During the last week of February 2026, the Instituto de Finanzas Internacionales (IIF) confirmed that global debt climbed to 348 trillions of dollars, marking an increase of 29 trillion in just one year due to fiscal expansion and military spending.
"Epic Fury" offensive and energy crisis in the Middle East
On February 28, 2026, Estados Unidos e Israel They started the operation "Epic Fury", a massive air campaign against the Iranian regime that has resulted in the death of the Supreme Leader, Ali Jameneiand 40 other high-ranking military officers, including the Minister of Defense Amir NasirzadehThis action seeks to force a regime change and neutralize the nuclear program of Teherán.
The Iranian response was swift, carrying out drone attacks against civilian infrastructure in Abu Dhabi, Dubai and the Saudi refinery of Ras TanuraInsecurity has led to logistics giants like Maersk y MSC temporarily suspend their operations in the Strait of Hormuz, a route through which up to 30% of the world's oil passes.
| Indicator / Event | Data / Impact |
|---|---|
| Global Debt 2025 | 348 trillion USD (308% of GDP) |
| Brent Barrel Price | Close near $80 (+7%) |
| Dutch TTF Gas Price | 40€/MW (+20%) |
| Imports from China via Hormuz | 4,5 million b/d (40-45% of its crude) |
| China's Strategic Reserves | 1.300 million barrels |
Trade advances in Mercosur and new alliances in Asia
In the field of foreign trade, Uruguay y Argentina have ratified the agreement EU-Mercosurallowing the Comisión Europea, chaired by Ursula von der Leyento announce its provisional application for the trade pillar. This agreement is estimated to save European companies more than 4.000 million euros per year in tariffs.
On the other hand, the Prime Minister of India, Narendra Modi, consolidated a "Special Strategic Partnership" to Israel after signing 17 technological and military cooperation agreements, breaking with diplomatic tradition by not visiting the Palestinian territories.
Regional conflicts and protectionism in the U.S.
- Pakistan vs Afghanistan: Islamabad launched the operation "Righteous Fury" with bombings on Kabul y Kandahar after Taliban incursions.
- Sub-Saharan Africa: Zimbabue suspended lithium exports to encourage local processing, while in the RDC Fighting intensifies for control of coltan mines in Rubaya.
- Trump's Trade Strategy: Following a legal setback in the Supreme Court, the administration Trump implemented a general tariff of 10% under Section 122 of the Trade Act of 1974.
Source: Cesce
Key points and frequently asked questions about the international situation
What is the immediate impact of the conflict in Iran on the oil market?
Closing of the Strait of Hormuz Maritime insecurity could raise the price of a barrel above 100 USD If navigation is not restored soon, it will especially affect China, which imports 45% of its crude oil through this route.
What does the provisional application of the EU-Mercosur agreement entail?
It allows the progressive elimination of tariffs on more than 90% of trade between the blocs without waiting for full ratification by all member states of the UE, focusing on the commercial pillar that is the exclusive responsibility of Bruselas.
Why has Zimbabwe slowed down lithium exports?
The government seeks to force mining companies to invest in refining plants within the country, allowing them to Zimbabue retain greater added value from its strategic mineral resources for the energy transition.
[
