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UNCTAD: Hormuz closure impacts persist
A report from the United Nations Conference on Trade and Development (UNCTAD) stated that reopening the Strait of Hormuz will ease pressures on trade and energy markets, but it will not fully eliminate the economic impacts caused by more than 100 days of navigational disruption. The report indicated that 61 economies face double risks due to their dependence on imported oil and grains, with food, transportation, and energy costs remaining high even after oil prices declined. UNCTAD called for support to vulnerable countries to help them cope with rising import bills and to protect households from price shocks.
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