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.
Uzbekistan is preparing for one of its hottest weeks of the year, with electricity demand expected to approach a record as temperatures are forecast t...
Britain has moved to target Iran's Islamic Revolutionary Guard Corps (IRGC) and another Iran-linked organisation using new state-threat powers followi...
Pakistan on Sunday expressed "deep concern" over the latest escalation in the Middle East following renewed military exchanges between the U.S. and Ir...
Britain has moved to target Iran's Islamic Revolutionary Guard Corps (IRGC) and another Iran-linked organisation using new state-threat powers following a series of antisemitic incidents across the country.
Pakistan on Sunday expressed "deep concern" over the latest escalation in the Middle East following renewed military exchanges between the U.S. and Iran. It urged all sides to exercise restraint and honour commitments made under the Islamabad Memorandum of Understanding (MoU).
The UK has announced a fresh round of sanctions against individuals and organisations it says are responsible for cyber attacks and hybrid operations linked to Russian intelligence, in a move aimed at countering efforts to destabilise Europe.
Tajikistan will reduce electricity exports and increase water reserves ahead of winter as the government seeks to improve domestic power supplies after last year’s seasonal shortages.
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
The U.S. has launched fresh strikes on Iran after Tehran targeted a container ship and said it had again closed the Strait of Hormuz. Iran also claimed to have expanded attacks on U.S. military facilities across the Gulf.
Typhoon Bavi, the strongest storm to hit the eastern coast of mainland China this year, brought heavy rain, strong winds, flooding and landslides after making landfall in Zhejiang province on Sunday. More than 2.8 million people were evacuated to safety ahead of the storm.
President Ilham Aliyev is holding his annual question-and-answer session with international journalists at the 4th Shusha Global Media Forum in Azerbaijan.
Qatar is mourning the death of its former ruler, Sheikh Hamad bin Khalifa Al Thani, who has passed away at the age of 74.
Britain has moved to target Iran's Islamic Revolutionary Guard Corps (IRGC) and another Iran-linked organisation using new state-threat powers following a series of antisemitic incidents across the country.
The UK has announced a fresh round of sanctions against individuals and organisations it says are responsible for cyber attacks and hybrid operations linked to Russian intelligence, in a move aimed at countering efforts to destabilise Europe.
A 93-year-old British woman has died after being injured in wildfires that swept through southeastern Spain's Almeria province, regional authorities said, bringing the confirmed death toll to 13 people.
More than 10,000 excess deaths were recorded across 27 European countries during a record-breaking heatwave in late June, with older people accounting for the vast majority of the toll, according to official mortality data.
An overnight fire at a popular bar in Bangkok has killed at least 27 people and injured 63 others, making it one of the deadliest pub disasters in the Thai capital in recent years. Authorities say the venue quickly filled with thick smoke, trapping patrons inside.
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