EU warns Iran conflict could push inflation above 3%, weighs energy price caps

The European Union warns that conflict involving Iran could push the bloc's inflation above 3% and trigger a substantial stagflationary shock. In response, EU officials are preparing steps to lower energy prices, including weighing a gas price cap, as they note Russia would be the only winner from such a war due to spiking energy costs. The EU has also approved sanctions on 19 Iranian officials and entities over rights violations.