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.
U.S. President Donald Trump held an “excellent” phone call with Chinese President Xi Jinping on Wednesday, (4 February), to discuss trade, energy,...
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 5th of February, covering the latest developments you need to ...
The United States and Argentina have signed a framework agreement to strengthen cooperation on critical minerals on Thursday (4 February), reaffirming...
Israeli tank shelling and airstrikes killed 24 Palestinians including seven children in Gaza on Wednesday (4 February), health officials said, the lat...
An explosion and fire erupted after a fuel-laden freight train derailed at Kochyetovka station in Michurinsk, Russia, on Tuesday (4 February), halting...
U.S. President Donald Trump held an “excellent” phone call with Chinese President Xi Jinping on Wednesday, (4 February), to discuss trade, energy, Taiwan, Iran, and Russia’s war in Ukraine, ahead of Trump’s planned visit to Beijing in April.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 5th of February, covering the latest developments you need to know.
Israeli tank shelling and airstrikes killed 24 Palestinians including seven children in Gaza on Wednesday (4 February), health officials said, the latest violence to undermine the nearly four-month-old ceasefire.
An explosion and fire erupted after a fuel-laden freight train derailed at Kochyetovka station in Michurinsk, Russia, on Tuesday (4 February), halting rail traffic and triggering a major emergency response, authorities said.
Cuba’s Deputy Foreign Minister Carlos Fernández de Cossío has denied that Havana and Washington have entered formal negotiations, countering recent assertions by U.S. President Donald Trump, while saying the island is open to dialogue under certain conditions.
Talks with the U.S. should be pursued to secure national interests as long as "threats and unreasonable expectations" are avoided, President Masoud Pezeshkian posted on X on Tuesday (3 February).
Rivers and reservoirs across Spain and Portugal were on the verge of overflowing on Wednesday as a new weather front pounded the Iberian peninsula, compounding damage from last week's Storm Kristin.
Ukrainian President Volodymyr Zelenskyy accused Russia on Tuesday (3 February) of exploiting a U.S.-backed energy ceasefire to stockpile weapons and launch large-scale drone and missile attacks on Ukraine ahead of peace talks.
Morocco has evacuated more than 100,000 people from four provinces after heavy rainfall triggered flash floods across several northern regions, the Interior Ministry said on Wednesday.
U.S. President Donald Trump held an “excellent” phone call with Chinese President Xi Jinping on Wednesday, (4 February), to discuss trade, energy, Taiwan, Iran, and Russia’s war in Ukraine, ahead of Trump’s planned visit to Beijing in April.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 5th of February, covering the latest developments you need to know.
The United States and Argentina have signed a framework agreement to strengthen cooperation on critical minerals on Thursday (4 February), reaffirming a shared commitment to building secure, resilient and competitive supply chains.
An explosion and fire erupted after a fuel-laden freight train derailed at Kochyetovka station in Michurinsk, Russia, on Tuesday (4 February), halting rail traffic and triggering a major emergency response, authorities said.
Ukrainian and Russian officials wrapped up a "productive" first day of new U.S.-brokered talks in Abu Dhabi, Kyiv's lead negotiator said on Wednesday (4 February).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment