Panicked investors carried out massive sell-offs and caused turmoil in the market, potentially disrupting Israel’s economic stability
DEPOKPOS – Iran’s attacks reportedly targeted critical infrastructure in Tel Aviv and Haifa. One of them is Israel’s largest oil refinery, Bazan, which caused losses of around $3 million (around Rp48.9 billion) per day, according to the Financial Times.
Ben Gurion Airport was temporarily closed due to Iran’s retaliatory attack. The airport, which usually serves 300 flights and 35 thousand passengers per day, was only partially opened on Sunday to evacuate residents. This disruption is expected to increase economic losses.
The airport closure coincided with the suspension of flights by Israel’s national airline, El Al, which diverted flights to avoid risk.
Flights to Paris were forced to land in Cyprus, while flights to Bangkok were diverted to Rome. The operational costs of this disruption alone are estimated to reach $6 million.
Israel’s financial market was also hit. Iran’s missile attack briefly hit the Israel Diamond Exchange – a sector that accounts for around 8 percent of the country’s total exports. According to the Israel Diamond Institute, the attack sparked concern on the Tel Aviv Stock Exchange.
Panicked investors sold heavily and caused turmoil in the market, potentially disrupting Israel’s economic stability.
Experts warn that if the conflict continues, Israel’s economic growth could slow, unemployment rates rise and poverty rates increase.
Ceasefire agreement
US President Donald Trump announced on Monday (6/23/2025) that Israel and Iran have agreed to a “total and complete” ceasefire amid rising tensions in the Middle East.
The ceasefire will take effect on Tuesday (6/24/2025) at 04:00 GMT (11:00 WIB). Trump called on both sides not to violate it.
However, on Tuesday morning, Israeli Defense Minister Israel Katz ordered a massive attack on Iran on the pretext that Iran had violated the agreement. Iran has denied the accusations and vowed to retaliate if attacked again.
On Monday, Iran launched missiles at the U.S. military’s Al Udeid Air Base in Qatar, following a U.S. strike on three Iranian nuclear sites on Sunday.
The U.S. strikes poured gasoline on a fire that has been raging since Israel attacked Iran on June 13, prompting Tehran to retaliate.
