The Athens Stock Exchange opened sharply lower on Monday, driven by renewed geopolitical tensions in the Middle East.
The sell-off was triggered by reports that US President Donald Trump has reimposed a naval blockade on Iran and announced a 20% fee on vessels transiting the Strait of Hormuz.
The 20% transit fee effectively acts as a tariff on global oil shipments, raising input costs for energy-intensive industries and potentially fueling inflationary pressures.
The move marks a significant escalation in US-Iran relations, reversing recent diplomatic progress and introducing immediate uncertainty for global energy supply chains.
Brent crude prices faced upward pressure as traders priced in the risk of supply disruptions through the critical chokepoint.
The 20% transit fee effectively acts as a tariff on global oil shipments, raising input costs for energy-intensive industries and potentially fueling inflationary pressures.
European equity markets, already fragile following a downturn in Asian trading sessions, struggled to find footing as risk aversion spread.