UN warning: Iran's actions in the Strait of Hormuz threaten the economy
The UN Security Council held an emergency meeting to discuss the safety and security of maritime routes, amid growing international concerns about the impact of Iran's actions in the Strait of Hormuz on global trade and energy security. The meeting was convened at the request of the Kingdom of Bahrain, which holds the rotating presidency of the Council this month, under the agenda item on maintaining international peace and security. UN Secretary-General António Guterres and the Secretary-General of the International Maritime Organization, Arsenio Domínguez, participated, along with several foreign ministers and representatives of member states.
The strategic and historical importance of the Strait of Hormuz
The Strait of Hormuz is one of the world's most strategically important waterways, connecting the Persian Gulf, the Gulf of Oman, and the Arabian Sea. Historically, it has been a vital artery for energy supplies, with roughly one-fifth of the world's crude oil consumption, as well as vast quantities of liquefied natural gas, passing through it. Over the decades, the region has witnessed recurring geopolitical tensions, with Tehran frequently using the threat of closing the strait as a political bargaining chip in the face of international sanctions or diplomatic crises. Any disruption to the security of this waterway would not only affect exporting countries in the Middle East but would also have far-reaching consequences for industry in Asia, Europe, and the Americas.
The repercussions of Iran's actions in the Strait of Hormuz at all levels
Iran’s continued actions in the Strait of Hormuz pose unprecedented challenges at the local, regional, and international levels. Regionally, they impede the economic development plans of the Gulf states, which rely heavily on the secure export of their resources. Internationally, any disruption to maritime traffic leads to an immediate increase in oil prices and shipping and insurance costs, fueling global inflation. In this context, Bahraini Foreign Minister Dr. Abdullatif bin Rashid Al Zayani affirmed that freedom of navigation is a cornerstone of international law, emphasizing the need for full compliance with the United Nations Convention on the Law of the Sea. Al Zayani explained that these actions jeopardize the global economy and threaten the safety of millions, particularly in the Global South.
UN warns of a global supply crisis
For his part, UN Secretary-General António Guterres warned that global sea lanes, which have been vital arteries of international trade for centuries, are now facing immense pressure that threatens international security and stability. He reiterated that the prohibition against the threat or use of force applies fully to the maritime domain. Guterres stressed that continued disruption to shipping could lead to a global food emergency, pushing millions into hunger and poverty, noting that the least developed countries and small island developing states bear the brunt of this crisis due to their heavy reliance on maritime imports.
The position of the International Maritime Organization and the international community
The International Maritime Organization (IMO) urged member states to support the emergency evacuation framework to ensure the safe passage of affected crews. Secretary-General Arsenio Domínguez emphasized that the principle of freedom of navigation is non-negotiable. French Minister for Europe and Foreign Affairs Jean-Noël Barrot stressed that maritime security is of paramount importance, transcending the geographical boundaries of the strait to encompass the international community's ability to manage public assets. British Minister of State Stephen Doughty called for the unconditional restoration of freedom of navigation, welcoming Resolution 2817, which condemns attacks that disrupt international trade. Pakistani Ambassador Asim Iftikhar Ahmed warned that the continuation of the crisis would have dire consequences for inflation and growth, and cautioned about the cascading effects on global supply chains.
