The Iran war has also come just as the steel industry’s critical progress towards decarbonisation was seen to be slowing. Dialogue Earth spoke with analysts to examine the effects the Iran war has already had and what impact the conflict might bring to global momentum towards greener steelmaking. These advantages have helped attract at least US$ 10 billion in investment across half a dozen “green iron” projects in Oman, the United Arab Emirates and Saudi Arabia. Durukan noted the tangible impacts of these considerations on several large-scale green iron and steel investments in the region. “It ought to be a wake-up call to Australia to get on with green iron project development,” said Nicholas.