""The global economy is facing a major, major threat today, and I very much hope that this issue will be resolved as soon as possible.""
""No country will be immune to the effects of this crisis if it continues to go in this direction. So there is a need for global efforts.""
""This crisis as things stand is now two oil crises and one gas crash put all together.""
""The single most important solution to this problem is opening the Hormuz Strait.""
Fatih Birol, chief of the IEA, warned that the ongoing US-Israel war against Iran and the closure of the Strait of Hormuz pose a significant threat to the global economy. He emphasized that no country will be immune to the crisis's effects and called for global efforts to resolve the situation. Birol likened the current crisis to the oil shocks of the 1970s and the impact of the Russian invasion of Ukraine, stating that the key solution is to open the Hormuz Strait.
Read at www.dw.com
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