Hormuz Strait Blockade Suffocating Global Economy, Warns UN Secretary-General

According to an Al Jazeera report, Guterres warned that even under the most optimistic scenarios, the world faces prolonged economic distress. He emphasized that even if all restrictions were lifted immediately, it would take months for global supply chains to stabilize, leading to sustained high prices and sluggish economic growth.

The crisis intensified after Tehran closed the vital waterway following military tensions involving the US and Israel. In response, a US naval blockade in the Persian Gulf since April 13 has further crippled Iranian oil exports and disrupted global energy markets. As the passage handles over 20% of the world's oil and natural gas, the Secretary-General stressed that the current instability is driving global markets toward a severe and lasting crisis.