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.
The Nicaraguan government announced on Saturday that it had freed dozens of inmates from the country’s national penitentiary system, following press...
South Africa's President Cyril Ramaphosa called on the African National Congress (ANC), his party, to address its poor record on delivering basic serv...
New details have emerged in the investigation of the devastating fire at the Le Constellation bar in the Swiss ski resort of Crans-Montana, which kill...
Demonstrations were held in several major European cities in solidarity with ongoing protests in Iran, as anger mounts over worsening economic conditi...
The number of prisoners freed in Venezuela has increased to 18, human rights organisations reported on Saturday, up from nine on Friday afternoon....
The Nicaraguan government announced on Saturday that it had freed dozens of inmates from the country’s national penitentiary system, following pressure from the U.S. for the release of more than 60 political prisoners.
South Africa's President Cyril Ramaphosa called on the African National Congress (ANC), his party, to address its poor record on delivering basic services, ahead of upcoming local elections where the ANC is expected to lose support.
New details have emerged in the investigation of the devastating fire at the Le Constellation bar in the Swiss ski resort of Crans-Montana, which killed 40 people on New Year’s Eve. Authorities have revealed that a service door in the basement was locked from the inside.
Demonstrations were held in several major European cities in solidarity with ongoing protests in Iran, as anger mounts over worsening economic conditions and soaring food prices amid a nationwide communications blackout.
U.S. President Donald Trump has ruled out ordering a mission to capture Russian President Vladimir Putin, saying he is confident the war in Ukraine can be brought to an end.
New York City parents could soon have access to free childcare for two-year-old children following a joint announcement made by Mayor Zohran Mamdani and Governor Kathy Hochul on Thursday (8 January).
Türkiye has stepped back from mediating between Pakistan and Afghanistan after repeated efforts failed to narrow deep differences between Islamabad and Kabul.
Türkiye is reportedly in discussions to join the defence alliance between Saudi Arabia and Pakistan, a strategic move that could reshape security dynamics in the Middle East and South Asia.
Iran does not seek war with Israel or the United States but is prepared to respond if attacked, Iranian Foreign Minister Abbas Araghchi said on Thursday (8 January ) as economic protests sweep the country and Tehran's crackdown reportedly intensifies.
Kim Yo Jong, the influential sister of North Korean leader Kim Jong Un, has called on South Korea to thoroughly investigate recent drone incidents and provide a detailed explanation, according to a statement released by state media KCNA on Sunday.
The Nicaraguan government announced on Saturday that it had freed dozens of inmates from the country’s national penitentiary system, following pressure from the U.S. for the release of more than 60 political prisoners.
South Africa's President Cyril Ramaphosa called on the African National Congress (ANC), his party, to address its poor record on delivering basic services, ahead of upcoming local elections where the ANC is expected to lose support.
New details have emerged in the investigation of the devastating fire at the Le Constellation bar in the Swiss ski resort of Crans-Montana, which killed 40 people on New Year’s Eve. Authorities have revealed that a service door in the basement was locked from the inside.
Demonstrations were held in several major European cities in solidarity with ongoing protests in Iran, as anger mounts over worsening economic conditions and soaring food prices amid a nationwide communications blackout.
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