Shamaran, an energy company with the Lundin family as its largest shareholder, has reported a 50 percent drop in turnover on a year-on-year basis.
The sharp contraction comes even as global oil prices have surged, underscoring the severe operational headwinds facing firms with exposure to the region.
Earlier this week, Wizz Air reported a sharp decline in profits, citing the war and resulting air travel disruptions as primary drivers.
The company attributed the decline directly to the ongoing war in Iran.
"Unfortunately, the Iran war continues to have a major impact," the firm stated, pointing to disruptions in Iraq and the broader Middle East that have hampered production and logistics.
This development adds to a growing list of corporate casualties from the conflict.
Earlier this week, Wizz Air reported a sharp decline in profits, citing the war and resulting air travel disruptions as primary drivers.