German fishery has been caught in an escalating economic squeeze as surging marine fuel costs, driven by ongoing geopolitical conflicts in the Middle East and energy market volatility, threaten to bankrupt fleets.
As the U.S.-Israeli war against Iran continues, the global energy market is going through wild fluctuation, influencing various industries, including fishery.
Hamburg, an important port city in Germany, is also seeing its fishery and seafood production affected due to the cost hike in diesel, transportation and cold chain operation.
Fuel cost takes a big part of fishery production. For fishing boats which need to work offshore for a long time, higher fuel price means more costs in each voyage.
"The prices of raw materials have been rising these days. For example, I used to spend 50 euros for gas every day, but now it costs me 100 euros. The impact of the conflict is everywhere, even on fishermen, as they will need gas to go fishing. In the end, the cost of products is up. That's the case and it is not good. War is the worst thing that human can create," said a local fisherman.
Meanwhile, the operation of cold chain storage and logistics is also facing pressure from the higher fuel prices, as seafood has to be delivered to other places in a cold temperature. From equipment to transportation, costs are piling up.
"We're definitely feeling the impacts of the rising cost, from procurement, to fueling our vehicles, and of course, the labor cost. Employees think their living cost has increased and they wish to have higher wages. So, whether on the procurement side or facing customers, we have truly felt the impacts," said another local fisherman.
Some local vendors worry that the climbing energy cost will squeeze their profit margins if the conflict continues, which will make their business even more struggling.
German fishery caught in escalating economic squeeze as marine fuel costs threaten to bankrupt fleets
Iraqis are concerned about the country's security capabilities after the withdrawal of U.S. and coalition forces.
The United States and its allies have officially ended Operation Inherent Resolve against the Islamic State (IS) in Iraq, the Pentagon said on Wednesday.
The Iraqi Security Forces, including the Peshmerga and other security forces in the Iraqi Kurdistan region, will "lead the continuing effort to secure Iraq and keep IS remnants suppressed," according to a Pentagon statement.
The primary responsibility for addressing Iraq's remaining security challenges now rests with the Iraqi government, the statement said, adding that the United States will continue to provide "targeted training and intelligence support" to its Iraqi partners.
The Ministry of Peshmerga Affairs of Iraq's Kurdistan Region on Monday warned about security risks following the U.S. withdrawal.
In a statement, the ministry said the withdrawal comes at a sensitive time, amid continued security instability in Iraq and the Middle East. It stressed that the ongoing instability in the region requires vigilance and sound political decisions.
It added that the Kurdistan Region came under more than 1,000 drone and ballistic missile attacks during the war between the U.S. and Iran in recent months, expressing concern over the withdrawal of U.S. forces from the region amid complex regional security conditions, without the provision of a defensive system.
"Although Iraq has forces capable of sustained ground operations -- lasting months rather than days -- we still have significant shortcomings in areas such as air power and modern electronic technology," said Baghdad resident Anwar Musawi.
In addition to the external security environment, attention is also focused on how to further integrate Shia militias in Iraq under the unified state control following the foreign troops withdrawal.
The Iraqi government had previously set September 30 as a key deadline and worked to ensure that armed groups outside state institutions completed their disarmament. However, this process has now been extended.
Iraqi Prime Minister Ali al-Zaidi stated that Iraqi militias will cease armed activities and hand over their weapons in phases, and the government plans to complete the process by June 30, 2027.
"Only by keeping weapons in the hands of the state can we secure the future of the Iraqi people and ensure that we live in safety and stability," said another resident Majid Hasnavi.
The withdrawal of U.S. troops does not mean that U.S. influence in Iraq has come to an end. Iraq's fiscal revenue is heavily dependent on oil, and the U.S. dollar revenue from oil exports has long been managed through the Iraqi central bank's account at the Federal Reserve Bank of New York. In recent years, the United States has influenced Iraq's financial system by, for example, tightening scrutiny of U.S. dollar transactions and restricting certain Iraqi banks' use of the U.S. dollar.
"The Americans have many tricks, [and] we may ultimately have no choice but to cooperate with them again," said Anwar Musawi.
"I believe the U.S. will continue to exert influence. First, although U.S. troops have withdrawn from Iraq, they remain deployed in Jordan and Kuwait, which border Iraq. Should an emergency arise in Iraq, the United States would still be able to intervene. The United States will continue to keep a close eye on Iraq and will not allow it to fall into the hands of other powers so easily after its withdrawal," said Majid Hasnavi.
In 2014, the United States and its allies launched their campaign and deployed forces to fight the IS militants in Iraq and neighboring Syria.
In 2024, Washington and Baghdad agreed on a gradual pullout of U.S. troops from Iraq, seven years after the Iraqi government declared the country's full liberation from the IS militants at the end of 2017.
Iraqis concerned about security challenges after U.S. troop withdrawal
