Hormuz Strait situation may trigger global crisis, analyst

International relations expert Giorgi Loladze has warned that the ongoing tensions in the Hormuz Strait could have significant global economic consequences.

“The parties’ positions still appear distant. While neither side has confirmed reports, international media indicate that discussions between Iran and the United States have taken place, with positions exchanged,” Loladze said.

He highlighted that the main challenge is not the military operations by Israel and the United States, but the strategic importance of the Strait of Hormuz. About 25% of the world’s oil, along with other key commodities used in agriculture and much of the global supply of liquefied gas, passes through the strait. “The conflict and the situation in the strait have already affected China, Japan, South Korea, Taiwan, and European countries. This is creating a potential global crisis,” Loladze added.

On 23 March, US President Donald Trump said that an agreement with Iran could be reached within five days or sooner, noting that Tehran is reportedly seeking peaceful negotiations.