Back to feed

UN says Middle East crisis hits 130 economies, fuel up 300% in some African states

2 min
UN says Middle East crisis hits 130 economies, fuel up 300% in some African states

This digest was compiled by AI from multiple sources — links to the originals are below.

The Middle East crisis has affected more than 100 economies, with fuel and fertilizer prices rising up to 300% in some African countries, UN officials said at the 81st UN General Assembly. Disruptions in the Strait of Hormuz, Red Sea, Bab el-Mandeb, Black Sea, and Panama Canal, along with El Niño, are compounding global market pressures. The crisis has spread beyond the region, hitting energy and fertilizer markets by June and reaching sub-Saharan Africa and Southeast Asia.

Key Facts

  • UN analysis in September found the Middle East crisis has affected more than 100 economies.
  • Fuel and fertilizer prices rose up to 300% in some African countries, according to UN Development Coordination Office representative Helena Fraser.
  • UNDP head Alexander De Croo said the crisis initially had regional impact in March, then hit energy and fertilizer markets by June.
  • Disruptions affect the Strait of Hormuz, Red Sea, Bab el-Mandeb, Black Sea, and Panama Canal, compounded by El Niño.
  • In Kazakhstan, gasoline prices rose 8.5% over two months and nearly 16% year-on-year.

Global Economic Impact

The crisis has spread beyond the Middle East, affecting energy and fertilizer markets by June, according to UNDP head Alexander De Croo. By September, UN analysis showed the crisis had hit more than 100 economies, including sub-Saharan Africa and Southeast Asia. Helena Fraser of the UN Development Coordination Office reported fuel and fertilizer price increases of up to 300% in some African countries. De Croo said the instability makes the transition to decentralized and renewable energy especially urgent. He argued that states should not bear the economic consequences of geopolitical crises occurring thousands of kilometers away.

Trade Route Disruptions

Disruptions are occurring simultaneously in several key trade routes: the Strait of Hormuz, the Red Sea, the Bab el-Mandeb Strait, the Black Sea, and the Panama Canal. The El Niño climate phenomenon is adding further pressure on global markets. These disruptions were discussed at an event during the High-level Week of the 81st session of the UN General Assembly.

Kazakhstan Fuel Prices

In Kazakhstan, the price of a liter of gasoline rose 8.5% over two months and nearly 16% over a year. The UN discussion highlighted that even countries far from the conflict are experiencing fuel price increases.

2 sources

Time · lag behind first