Published on: 2026-04-28
Source: United Nations – United Nations –
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Against the backdrop of the increasing consequences of the crisis in the Strait of Hormuz for the global economy, the UN has launched a new risk monitoring mechanism in the areas of shipping, energy, food, and finance.
The consequences are exacerbated
Disruptions in shipping at one of the world’s key maritime hubs have rapidly escalated into a serious threat to global development. Since early March, the United Nations Conference on Trade and Development (UNCTAD) has warned that disruptions in the Strait of Hormuz negatively affect not only energy markets. The scale of consequences is explained by the strategic role of the strait in global trade – about a quarter of the world’s sea-borne oil trade, as well as significant volumes of liquefied natural gas and fertilizers, pass through the strait – goods on which food production and inflation directly depend.
The situation rapidly worsened in a short period: the number of ships passing through the strait decreased by approximately 95 percent, while prices for oil and gas, freight rates for tankers, the cost of marine fuel, and insurance premiums against war risks sharply increased. According to UNCTAD data, since early April, the consequences of the crisis have begun to be reflected in trade, prices, and financial markets. Thus, developing countries have faced currency weakening, stock index declines, and increased costs of external borrowing.
New tool for risk monitoring
To monitor risks, UNCTAD is launching a new monitoring tool. The platform combines regularly updated indicators in the fields of shipping, food, energy, and finance, allowing users to track the development of the crisis and compare it with previous shocks, such as the pandemicCOVID-19and disruptions in the supply chain after the start of the war on the territory of Ukraine.
The tool also allows tracking how various factors that lead to a crisis influence each other. For example, the rise in energy prices can lead to increased costs for fertilizers and food, while the tightening of financial conditions reduces countries’ ability to respond to the crisis.
The relevance of these measures is confirmed by the latest review of world trade by UNCTAD: Despite the fact that 2026 began on a positive note for global trade, rising instability, inflationary pressure, and increased trade costs worsen the prospects for developing countries in the field of investment and development.
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