The economic fallout from the military campaign against Iran is impacting Europe and Asia more severely than the US.

The economic damage extends far beyond disruptions to oil and gas shipments that typically pass through the strategic Strait of Hormuz, The Caspian Post reports via foreign media.

The closure of several international airports in the conflict zone, including those in Dubai, has disrupted global logistics. Nearly one-fifth of international air cargo traffic has been halted, causing supply chain interruptions for products such as consumer electronics, pharmaceuticals, and precious metals.

Ryan Petersen, CEO of the San Francisco-based logistics company Flexport, said the cost of air freight from Asia to Europe has surged by 45% since the conflict began. By comparison, freight rates from Asia to the United States have increased about half as much.

The war is hitting the economies of Europe and Asia faster and harder than the United States, largely because of their greater reliance on energy shipments passing through the Strait of Hormuz.

Among the economies currently feeling the strongest impact are Belgium, India, Italy, China, and South Korea, all of which depend heavily on oil and gas supplies routed through the Gulf.