NEW YORK: No country will be spared the economic and food security impacts of escalating tensions in the Gulf if disruptions persist, the chief economist of the Food and Agriculture Organization warned on Thursday, as rising costs for fuel and fertilizers ripple across global markets.
Speaking at a UN briefing, Maximo Torero said that while some nations may be more resilient in the short term, all will ultimately feel the effects of the crisis.
“I don’t see any country that won’t be affected by this,” he said, pointing to globally interconnected supply chains and rising input costs.
Torero highlighted the sharp decline in traffic through the Strait of Hormuz, a critical corridor for global energy and commodity flows.
The route typically carries around 20 million barrels of oil per day , roughly 35 percent of global crude — as well as a significant share of liquefied natural gas and internationally traded fertilizers.
