United Nations: If the Strait of Hormuz is closed, global energy and food markets will be impacted.

On March 10th local time, the spokesperson for the United Nations Secretary-General, Dujarric, cited the latest report from the United Nations Conference on Trade and Development, pointing out that if the Strait of Hormuz is closed, it will have an impact on the global energy and food markets. Dujarric stated that the recent tensions in the region have already affected energy transportation, causing a global rise in oil prices, and the number of ships passing through the Strait of Hormuz has significantly decreased, approaching a standstill. The United Nations Conference on Trade and Development warned in the report that the increase in energy, fertilizer, and transportation costs could push up food prices and exacerbate global cost of living pressures, particularly affecting the most vulnerable populations around the world.