Greece’s shipping minister warns that any closure of the Strait of Hormuz due to rising tensions between Iran and Israel would have serious global economic consequences.
Greece’s shipping minister warned Friday that closing the Strait of Hormuz would severely impact the global economy, as tensions rise in the Middle East.
“If the Strait of Hormuz is closed – which is the worst-case scenario – it will affect the entire global economy, not just shipping,” Vassilis Kikilias told SKAI TV.
He stressed that nearly 90% of global trade relies on maritime routes, and rerouting ships around Africa would create major disruptions to supply chains.
Kikilias called the current global situation “very volatile,” noting that oil prices have already surged 7–10% in recent days due to escalating conflict between Iran and Israel.
As fighting intensifies, Iran has warned it could shut the Strait of Hormuz — one of the world’s most vital oil transit chokepoints — in retaliation for U.S. involvement in its conflict with Israel.
A China-supported landmine elimination project has cleared more than 160 square kilometres of contaminated land in Cambodia since 2018, directly benef...
U.S. President Donald Trump and Russian President Vladimir Putin failed to reach a deal on Ukraine at their Alaska summit, sparking swift reactions fr...
When Donald Trump and Vladimir Putin sat down for their high-stakes summit, the choice of venue was as symbolic as the talks themselves — Alaska, a ...
A powerful explosion at a factory in Russia’s Ryazan region on Friday (August 15) left 11 people dead and 130 injured, the country’s emergencies m...
European Commission president Ursula von der Leyen said on Saturday that any eventual peace agreement to end the war in Ukraine must include strong se...
When Donald Trump and Vladimir Putin sat down for their high-stakes summit, the choice of venue was as symbolic as the talks themselves — Alaska, a former Russian colony and America’s northern frontier, separated from Russia by just 55 miles. But why here, and why now?
A powerful explosion at a factory in Russia’s Ryazan region on Friday (August 15) left 11 people dead and 130 injured, the country’s emergencies ministry confirmed on Saturday (August 16).
European Commission president Ursula von der Leyen said on Saturday that any eventual peace agreement to end the war in Ukraine must include strong security guarantees both for Kyiv and for Europe as a whole.
Slovak prime minister Robert Fico said on Saturday he welcomed the initiative launched by U.S. president Donald Trump and Russian president Vladimir Putin in Alaska to work toward ending the war in Ukraine.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
A deadly heatwave has claimed 1,180 lives in Spain since May, with elderly people most at risk, prompting calls for urgent social support.
West Virginia Governor Patrick Morrisey is deploying 300 to 400 National Guard troops to Washington at the request of the Trump administration, his office confirmed Saturday.
A China-supported landmine elimination project has cleared more than 160 square kilometres of contaminated land in Cambodia since 2018, directly benefiting over 2.6 million people, officials said Saturday.
U.S. President Donald Trump and Russian President Vladimir Putin failed to reach a deal on Ukraine at their Alaska summit, sparking swift reactions from Kyiv, European capitals and beyond. Leaders stressed the need for firm security guarantees for Ukraine and continued pressure on Moscow.
When Donald Trump and Vladimir Putin sat down for their high-stakes summit, the choice of venue was as symbolic as the talks themselves — Alaska, a former Russian colony and America’s northern frontier, separated from Russia by just 55 miles. But why here, and why now?
A powerful explosion at a factory in Russia’s Ryazan region on Friday (August 15) left 11 people dead and 130 injured, the country’s emergencies ministry confirmed on Saturday (August 16).
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