Iran’s blockade of the Strait of Hormuz, through which a quarter of global seaborne oil and a fifth of global liquefied natural gas is shipped, has had sweeping implications worldwide.
Rising gas prices amid the Iran war have sparked panic-buying lines and shortages at gas pumps. Other supply chains, such as fertilizer and seafood, could also be in peril.
“Past crises — including COVID-19 and the war in Ukraine — showed how disruptions to energy, transport, and agricultural inputs can quickly spread across interconnected markets,” the UN Conference on Trade and Development wrote in a report released March 10.
Here’s how countries and consumers around the world are feeling the effects of the Iran war.
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