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.
Ukrainian President Volodymyr Zelenskyy said on Tuesday he was prepared to hold elections within three months if the U.S. and Kyiv's other allies coul...
Fighting between Thailand and Cambodia extended into a third day on Wednesday as U.S. President Donald Trump said he would make a phone call to stop t...
Australia on Wednesday became the first country to ban social media for children under 16, blocking access to platforms including TikTok, Alphabet's Y...
A group of demonstrators gathered outside the Norwegian Nobel Institute to protest the awarding of this year’s Nobel Peace Prize....
Australia on Wednesday became the first country to ban social media for children under 16, blocking access to platforms including TikTok, Alphabet's YouTube and Meta's Instagram and Facebook.
A group of demonstrators gathered outside the Norwegian Nobel Institute to protest the awarding of this year’s Nobel Peace Prize.
Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar, outlined the country’s energy and gas sector developments at the 15th Türkiye Energy Summit in Istanbul.
A second aid ship carrying 10,080 tents provided by Turkey’s Disaster and Emergency Management Authority (AFAD) has departed from Mersin International Port to help address the shelter needs in Sudan, where a humanitarian crisis is ongoing.
Authorities in Japan lifted all tsunami warnings on Tuesday following a strong 7.5-magnitude earthquake that struck off the northeastern coast late on Monday, injuring at least 30 people and forcing around 90,000 residents to evacuate their homes.
Pressure is mounting between Venezuela and the United States as both nations emphasise military preparedness and strategic positioning.
A group of demonstrators gathered outside the Norwegian Nobel Institute to protest the awarding of this year’s Nobel Peace Prize.
Tehran has protested to Washington because of the travel ban on its football team delegation as well as Iranian fans who would like to travel to the United States for the upcoming World Cup matches in 2026.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
Ukrainian President Volodymyr Zelenskyy said on Tuesday he was prepared to hold elections within three months if the U.S. and Kyiv's other allies could ensure the security of the vote.
Fighting between Thailand and Cambodia extended into a third day on Wednesday as U.S. President Donald Trump said he would make a phone call to stop the conflict, after he had brokered a ceasefire in July to end a five-day battle between the Asian neighbours.
Australia on Wednesday became the first country to ban social media for children under 16, blocking access to platforms including TikTok, Alphabet's YouTube and Meta's Instagram and Facebook.
A group of demonstrators gathered outside the Norwegian Nobel Institute to protest the awarding of this year’s Nobel Peace Prize.
German Chancellor Merz addresses foreign companies and congratulates Azerbaijan and Armenia on peace deal
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