UN: Any disruption in the Strait of Hormuz will affect the livelihoods of nearly one billion people
According to a report by the United Nations Conference on Trade and Development, any disruption to energy transit through the Strait of Hormuz could have widespread economic and humanitarian consequences worldwide.
The organization has announced that out of the world’s 75 most vulnerable economies, including least developed countries and small island developing states, 65 are dependent on oil imports.
According to this report, the increase in energy prices as a result of possible crises in the Strait of Hormuz will significantly increase the costs of living and production in these countries.
UNCTAD has warned that the consequences of rising energy prices could affect the lives and livelihoods of nearly one billion people in vulnerable countries.
Experts emphasize that the Strait of Hormuz is one of the most important routes for transporting oil and energy in the world, and any tension or disruption in this strategic port could have a direct impact on global energy markets.
