https://sputnikglobe.com/20260530/imf-world-bank-warn-northern-hemisphere-economies-at-risk-if-hormuz-crisis-persists-1124213221.html
IMF, World Bank Warn Northern Hemisphere Economies at Risk if Hormuz Crisis Persists
IMF, World Bank Warn Northern Hemisphere Economies at Risk if Hormuz Crisis Persists
Sputnik International
A persisting crisis in the Strait of Hormuz threatens the economies of nations in the Northern Hemisphere, the heads of the IMF, World Bank, International Energy Agency, and World Trade Organization said in a joint statement.
2026-05-30T03:17+0000
2026-05-30T03:17+0000
2026-05-30T04:47+0000
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"The war in the Middle East is generating substantial and highly asymmetric impacts on energy supplies, food security, and economic activity across countries and regions," the statement said. While the situation around higher fuel and fertilizer prices is disproportionately affecting vulnerable countries, nations in the northern hemisphere are not exempt from consequences of an extended crisis in the waterway, according to the four major multilateral institutions. "Global oil inventories are being drawn down at a record pace in response to the major loss of supply through the Strait of Hormuz. If shipping flows do not return to normal, continued rapid depletion of global oil inventories ahead of peak summer oil demand in the Northern Hemisphere would present increasing risks for fuel security, market conditions, and broader economic resilience," the statement added. The four organizations vowed to remain in contact to continue assessing the evolving situation and better coordinate efforts in support of both the most impacted nations and global economic stability. On February 28, the United States and Israel launched strikes on targets in Iran, causing damage and civilian casualties. On April 7, Washington and Tehran announced a two-week ceasefire. Subsequent talks in Islamabad ended inconclusively, and the United States began a blockade of Iranian ports.
https://sputnikglobe.com/20260528/us-sanctions-irans-persian-gulf-strait-authority-1124201246.html
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IMF, World Bank Warn Northern Hemisphere Economies at Risk if Hormuz Crisis Persists
03:17 GMT 30.05.2026 (Updated: 04:47 GMT 30.05.2026) A persisting crisis in the Strait of Hormuz threatens the economies of nations in the Northern Hemisphere, the heads of the IMF, World Bank, International Energy Agency, and World Trade Organization said in a joint statement.
"The war in the Middle East is generating substantial and highly asymmetric impacts on energy supplies, food security, and economic activity across countries and regions," the statement said.
While the situation around higher fuel and fertilizer prices is disproportionately affecting vulnerable countries, nations in the northern hemisphere are not exempt from consequences of an extended crisis in the waterway, according to the four major multilateral institutions.
"Global oil inventories are being drawn down at a record pace in response to the major loss of supply through the Strait of Hormuz. If shipping flows do not return to normal, continued rapid depletion of global oil inventories ahead of peak summer oil demand in the Northern Hemisphere would present increasing risks for fuel security, market conditions, and broader economic resilience," the statement added.
The four organizations vowed to remain in contact to continue assessing the evolving situation and better coordinate efforts in support of both the most impacted nations and global economic stability.
On February 28, the United States and Israel launched strikes on targets in Iran, causing damage and civilian casualties. On April 7, Washington and Tehran announced a two-week ceasefire. Subsequent talks in Islamabad ended inconclusively, and the United States began a blockade of Iranian ports.
