The OPEC Fund for International Development has announced a $1.5 billion aid package to support developing countries facing energy and trade disruptions caused by the ongoing Iran war. According to Reuters, the Vienna-based organization stated that the funds will be distributed in phases through 2028 to help nations manage rising economic pressures.

The OPEC Fund explained that the conflict has severely disrupted the supply of essential goods such as food, fuel, and fertilizer, driving prices sharply higher. The newly created demand-based fund aims to assist governments in covering increased costs and maintaining stable supply chains. The organization emphasized that the package will provide special protection to countries struggling with the negative global market impacts and trade stagnation resulting from the war.

The fund has previously extended financial assistance to developing nations during various global crises, continuing its role as an international development partner.