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.
Trump reportedly lashed out at Netanyahu on Monday over Israel's escalation in Lebanon, describing the Israeli leader as "crazy" and warning that furt...
The launch ceremony marking the commissioning of the modernised Baku-Tbilisi-Kars (BTK) railway line was held at Akhalkalaki station in Georgia on 2 J...
When Armenians vote on 7 June, they will be voting in an election shaped by months of political change and a rapidly deepening relationship with the E...
Okinawa lost transport links and suffered widespread power outages on Monday (1 June) as Severe Tropical Storm Jangmi brought destructive winds and he...
Hungarian Prime Minister Péter Magyar said on Monday that his government would begin legal proceedings to remove President Tamás Sulyok if he contin...
Trump reportedly lashed out at Netanyahu on Monday over Israel's escalation in Lebanon, describing the Israeli leader as "crazy" and warning that further military action would deepen Israel's international isolation, according to a report by Axios.
The launch ceremony marking the commissioning of the modernised Baku-Tbilisi-Kars (BTK) railway line was held at Akhalkalaki station in Georgia on 2 June, bringing together senior officials from Azerbaijan, Georgia and Türkiye.
Okinawa lost transport links and suffered widespread power outages on Monday (1 June) as Severe Tropical Storm Jangmi brought destructive winds and heavy rain to Japan's south-western islands.
Hungarian Prime Minister Péter Magyar said on Monday that his government would begin legal proceedings to remove President Tamás Sulyok if he continues to reject calls to resign.
Okinawa lost transport links and suffered widespread power outages on Monday (1 June) as Severe Tropical Storm Jangmi brought destructive winds and heavy rain to Japan's south-western islands.
U.S. Secretary of State Marco Rubio has held talks with Lebanese President and Israeli Prime Minister on efforts to ease tensions between Israel and Lebanon. According to a U.S. official, Washington has proposed a plan aimed at achieving a gradual de-escalation of hostilities.
Competing narratives continue to shape perceptions of the war in Ukraine, with Russian leadership suggesting a possible end phase while Ukrainian officials warn of renewed large-scale attacks and ongoing escalation risks.
Unsealed records from the U.S. Department of Justice have renewed scrutiny of lawyer Robert Amsterdam after documents revealed communications between his law firm and Jeffrey Epstein's office. The disclosures have drawn attention because of Amsterdam's prominent role in Armenia.
When Armenians vote on 7 June, they will be voting in an election shaped by months of political change and a rapidly deepening relationship with the European Union. The result may not only determine who governs Armenia but also the future direction of the country's geopolitical alignment.
Hungarian Prime Minister Péter Magyar said on Monday that his government would begin legal proceedings to remove President Tamás Sulyok if he continues to reject calls to resign.
Hundreds of people were left homeless after a massive fire in Indonesia's capital Jakarta affected more than 300 houses, according to state-run media on Tuesday.
Competing narratives continue to shape perceptions of the war in Ukraine, with Russian leadership suggesting a possible end phase while Ukrainian officials warn of renewed large-scale attacks and ongoing escalation risks.
Russian drones and missiles pounded the Ukrainian capital Kyiv and other cities early on Tuesday, killing at least 11 people and wounding more than 100, authorities said, following days of warnings about Moscow's plans for a major assault.
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