World: Strait of Hormuz disruptions: Implications for global trade and development

Country: World Source: UN Conference on Trade and Development Please refer to the attached file. Introduction The Strait of Hormuz is one of the world’s most critical maritime chokepoints, carrying around a quarter of global seaborne oil trade and significant volumes of liquefied natural gas and fertilizers. The ongoing military escalation in the region has disrupted shipping flows through this narrow passage.