The closure of the Strait of Hormuz could have serious consequences for the global economy, including inflation and the risk of a worldwide recession, former World Bank Vice President Ismail Serageldin said.<\/p>\n
He noted that a significant portion of global oil supplies passes through the strait, so any disruption to shipping could sharply disrupt the market. Oil prices have already risen from around $60 to over $100 per barrel.<\/p>\n
The expert added that the consequences could affect not only the energy sector, but also agriculture, food security, and fuel markets.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"
The closure of the Strait of Hormuz could have serious consequences for the global economy, including inflation and the risk of a worldwide recession, former World Bank Vice President Ismail Serageldin said. He noted that a significant portion of global oil supplies passes through the strait, so any disruption to shipping could sharply disrupt the […]<\/p>\n","protected":false},"author":7,"featured_media":242745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,35,43,96,95,98,101],"tags":[],"class_list":["post-242765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-politics","category-world","category-iran-en","category-azerbeijan","category-other-en","category-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/posts\/242765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/comments?post=242765"}],"version-history":[{"count":1,"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/posts\/242765\/revisions"}],"predecessor-version":[{"id":242766,"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/posts\/242765\/revisions\/242766"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/media\/242745"}],"wp:attachment":[{"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/media?parent=242765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/categories?post=242765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abcmedia.am\/en\/wp-json\/wp\/v2\/tags?post=242765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}