Madrid is one of the prominent European voices against the war and against Israel, but when the Gulf is unstable — Spain also pays the price. Not because it is directly dependent on Iran, but because its weak point is clear: tourism, aviation, and energy.
The numbers already outline the cost. According to economic estimates in Spain, which were also quoted in the Arab media, the war could reduce this year's growth by between 0.2 and almost a full percentage point. The Bank of Spain has already indicated that in a severe scenario, growth could fall to 1.9% and inflation could soar to 5.9%.
True, Spain is relatively protected from immediate shortages: more than 80% of its jet fuel is produced locally. But it does not live in a vacuum. Europe depends on about 75% of its jet fuel imports from the Gulf, and stocks on the continent are low.
Therefore, even if Madrid is not the first to run out of fuel, it will definitely be among the first to pay more for every flight, every summer, and every tourist.
