The crisis in the Strait of Hormuz has triggered challenges across the world: UK statement at the UN Economic and Social Council

The crisis in the Strait of Hormuz is triggering global challenges, particularly impacting developing countries. Rising oil prices, increased interest rates, disrupted remittances, and rising displacement are making life harder for millions, threatening global economic instability and development setbacks. The UK is working to reopen the Strait and provide emergency funding to affected nations.