Transmission channels of the War against Iran to the Brazilian economy

The article analyzes the transmission channels through which the war with Iran impacts the Brazilian economy, highlighting that the effects are not direct but rather propagate through key variables such as energy, inflation, trade, and production costs. In particular, the conflict generates a shock to oil and gas prices, which raises transportation and production costs; it also increases fertilizer prices (which are heavily energy-dependent), affecting the agricultural sector. The article also mentions increased inflation, financial uncertainty, and potential effects on interest rates and economic growth.