24 Hrs
Source:
بوابة الشروق
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Hormuz Strait Crisis Risks Escalation
The report from the President of the Arab Academy for Science, Technology, and Maritime Transport states that a prolonged crisis in the Strait of Hormuz will lead to significant negative impacts on the global economy and its stability, especially given that up to 90% of maritime trade and 20% of oil exports pass through the strait. It emphasizes that ongoing escalation and warfare between the United States and Iran hinder the resolution of the crisis, increasing risks to supply chains and maritime transportation. The report also notes that alternative solutions require time and international alliances, while shipping through the strait remains the most effective and least costly option so far.
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