A study by the European Central Bank, published Friday, showed that eurozone consumers, already affected by the war in Ukraine, adjusted their behavior more quickly this time in response to disruptions caused by a war with Iran, meaning its economic impact could be deeper and faster.

Russia’s invasion of Ukraine in February 2012 triggered an energy crisis and inflation, from which Europe has largely recovered. However, the strikes launched by the United States and Israel against Iran on February 28 have led to an unprecedented disruption of energy supplies.

Researchers at the European Central Bank analyzed whether consumers in the eurozone reacted more quickly to the potential economic impact of such geopolitical turmoil and concluded that the evidence supports this.