New York: Shipping traffic through the Strait of Hormuz hascome to a virtual standstill since February, the United Nations said on Tuesday.
A newly released dashboard from the UN Trade and Development (UNCTAD )tracks shipping, food and energy prices and financial markets relatedto the ongoing restrictions in the strait, a spokesman for UN Secretary General António Guterres said.
The dashboard showed ship transits related to the Strait of Hormuz had decreased by 95.3% since February 28, spokesman Stéphane Dujarricsaid.
"Commodity food prices have risen by 6% and the crude oil price for Europe has risen by 53% since then," he added.
After the US and Israel began attacks on Iran on February 28, Iran responded by effectively blocking the Strait of Hormuz.
The blockade has caused major disruptions to global trade, send in energy prices soaring and sparking frantic measures to prevent fuelshortages. The reopening of the strait has been a major sticking point in negotiations to end the war.
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