Hawzah News Agency- The report stated that “the effects of the war have hit Europe and Asia harder than the United States'', noting that “international shipping costs and energy prices have reached record levels as a result of disruptions to vital waterways''.
“The damage is no longer limited to fuel supplies but has extended to global supply chains, increasing the cost of transporting goods and basic commodities'', the report added.
“The continuation of the military conflict could transform this crisis from a temporary disruption in the energy market into a global economic crisis that would be difficult to contain'', according to the report.
Analysts cited in the report explained that the closure of key waterways, most notably the Strait of Hormuz, has led to a partial paralysis of international trade, placing additional pressure on global inflation rates and threatening the stability of financial markets in the near future.
Your Comment