Greek Minister Warns Hormuz Blockade Risks Global Trade

Greek Shipping Minister Vassilis Kikilias has issued a stark warning about the potential economic catastrophe posed by a blockade of the Strait of Hormuz. The critical shipping chokepoint, responsible for 20% of global oil trade, faces unprecedented disruption risks as Iran-Israel tensions escalate.

Recent hostilities saw Israeli airstrikes target Iranian nuclear facilities, prompting retaliatory strikes that killed hundreds. Kikilias emphasizes this could trigger the worst trade disruption in decades, with cascading effects on oil markets and global supply chains. The minister's assessment carries particular weight given Greece's position as owner of the world's largest merchant fleet.

Market analysts note such geopolitical volatility typically drives capital toward alternative stores of value. Digital assets often see increased interest during periods of trade uncertainty and potential dollar instability.