UN economic body says trade impact of Middle East crisis 'already being felt'

The UN economic body warned Tuesday that the deepening Middle East crisis is starting to affect global trade, with disruptions emerging across key transport hubs and corridors.

"As the crisis in the Middle East deepens, disruptions to the movement of oil and gas in the region continue to make headlines and send global economic shockwaves, trade impact is also already starting to be felt through strategically important hubs and corridors for the transport of goods," said Jean Rodriguez, spokesperson for the UN Economic Commission for Europe (UNECE).

He highlighted the importance of the Strait of Hormuz, which handles about 2.8% of global container transport, underscoring its role in global trade flows.

Governments in the region are taking steps to mitigate the impact, according to the spokesperson, including expanding the use of the UN's TIR transit system to facilitate cross-border transport.

Rodriguez said proposals are emerging to combine maritime and overland routes between the Gulf and the Red Sea, while transport companies are also exploring alternative corridors across the region.

He added that land transit options through Türkiye, Iraq, Syria, and Jordan could provide further opportunities.

However, he cautioned that "political sensitivities and administrative barriers," as well as visa restrictions, could constrain some of these options.

He also recalled UNECE Executive Secretary Tatiana Molchan's remarks on the matter, in which she urged: "I encourage all governments, operators and international partners in the region and beyond to continue working together to ease trade flows and facilitate the smooth and safe passage of goods."