International Energy Agency Director Fatih Birol warned that if the conflict that blocked transportation in the Strait of Hormuz cannot be resolved within a few weeks, the global economy will once again face challenges. Birol said in an interview while attending the Aspen Safety Forum in Colorado on Wednesday that the escalation of the US-Iran conflict may disrupt the transportation of crude oil, fertilizer, natural gas and other goods along this critical waterway, making the “market tense and uneasy” and facing “great uncertainty.” “If the Strait of Hormuz continues to be closed, the global economy, including those in the Middle East, developing countries, and Asia, may once again face some difficulties,” Birol pointed out. “The time window for resolving the crisis is not calculated in months, but in weeks”, and the straits must be “fully open and unconditionally open.” Birol said that disruptions in the transportation of energy and raw materials in the Persian Gulf have had an impact on economies such as South Korea and Japan, but countries such as Bangladesh, Pakistan and India are less able to withstand such supply risks and face greater risks.

International Energy Agency Director Fatih Birol warned that if the conflict that blocked transportation in the Strait of Hormuz cannot be resolved within a few weeks, the global economy will once again face challenges. Birol said in an interview while attending the Aspen Safety Forum in Colorado on Wednesday that the escalation of the US-Iran conflict may disrupt the transportation of crude oil, fertilizer, natural gas and other goods along this critical waterway, making the “market tense and uneasy” and facing “great uncertainty.” “If the Strait of Hormuz continues to be closed, the global economy, including those in the Middle East, developing countries, and Asia, may once again face some difficulties,” Birol pointed out. “The time window for resolving the crisis is not calculated in months, but in weeks”, and the straits must be “fully open and unconditionally open.” Birol said that disruptions in the transportation of energy and raw materials in the Persian Gulf have had an impact on economies such as South Korea and Japan, but countries such as Bangladesh, Pakistan and India are less able to withstand such supply risks and face greater risks.