In a joint statement released after a meeting on Thursday, leaders of the International Energy Agency, International Monetary Fund, World Bank, and World Trade Organization said that while the global economy remains broadly resilient, the conflict is creating disproportionate pressure on poorer nations through rising fuel and fertilizer prices, heightened uncertainty, and potential job losses.
The organisations highlighted growing concerns over the security of energy transport routes, particularly the Strait of Hormuz – a critical chokepoint for global oil and gas shipments. Any disruption in shipping through the waterway, they warned, could significantly affect global supply chains and energy market stability. The statement noted that the war has already disrupted trade flows and rattled financial markets, with investors reacting to fears of prolonged instability in the region.
