Stockholm Sounds the Alarm: Old Continent on Brink of Recession Due to Straits War

Swedish Prime Minister Ulf Kristersson issued a stern warning on Thursday, April 23, 2026, that the Middle East ignition and the Strait of Hormuz closure will push the European economy to the brink. The Swedish fears, shared by the European Commission and the IMF, center around a devastating inflationary shock caused by energy supply shortages. As Europe considers urgent emergency plans, the need appears more pressing than ever to accelerate the clean energy transition to decouple from conflict zones.