Disruptions in the Strait of Hormuz are sending shockwaves through the global energy system.

Vulnerable economies are on the front line: of 75 economies – least developed countries (LDCs) and small island developing states (SIDS) – 65 depend on imported oil.

For these countries, rising energy prices will translate into higher costs and difficult trade-offs between covering fuel bills and investing in essential public services. This will affect nearly 1 billion lives.

When the Strait of Hormuz is strangled, the world’s poorest and most vulnerable cannot breathe.

Without relief, these shocks will further entrench structural vulnerabilities.

Prices of oil and refined oil products have risen

Please read the full report at https://unctad.org/publication/strait-hormuz-disruptions-burden-oil-price-shocks-vulnerable-economies