- Iran initiated military action on May 28 by firing at ships attempting to cross the Strait of Hormuz, leading to Kuwait's involvement in the escalation.
- Iran attacked a Singapore-flagged cargo ship in the Strait of Hormuz near the coast of Oman, leading to US strikes in response.
- A Panama-flagged tanker was damaged in the Strait of Hormuz amidst Iranian Revolutionary Guard attacks and subsequent US strikes aimed at protecting commercial shipping.
- Disruptions in the Strait of Hormuz are affecting Panama, leading to diplomatic discussions with India.
India and Liberia launch initiative amid attacks on Hormuz shipping
- Reports
- 7
- Developments
- 2
- Repetition
- 86%
New informationRepeats or wire copies
What happened
External Affairs Minister S Jaishankar highlighted grave concerns regarding repeated attacks on civilian shipping and seafarers in the Strait of Hormuz during the G20 Foreign Ministers' Meeting. He noted that India and Liberia launched a joint initiative to safeguard seafarers. Jaishankar also stated that Middle Eastern hostilities are disproportionately affecting nations in the Global South.
Why it matters
The attacks on civilian shipping have jeopardized the availability and cost of fuel, food, and fertilizers. Jaishankar cautioned that these hostilities are placing severe threats on the supply chains of developing economies.
Disruptions in the Strait of Hormuz are affecting Panama, leading to diplomatic discussions with India.
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- IndiaSpeculative
Indian maritime trade might face increased shipping risk and costs due to the attacks.
- Panama Canal AuthoritySpeculative
The Panama Canal Authority could see increased insurance and transit costs due to rising global shipping risk.
- SingaporeSpeculative
Singapore may experience increased global shipping costs and transit delays due to heightened risk in Hormuz.
- Ministry of Economy and FinanceSpeculative
The Ministry of Economy and Finance could face increased insurance and operational costs related to maritime risk in Panama.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Hormuz attacks may increase volatility for Brent crude oilCrude oil supply risks from Hormuz attacks could increase volatility in Brent pricing.Possible
- Global shipping risk in Hormuz may raise costs for SingaporeIncreased global shipping risk in Hormuz may raise costs for Singapore.Possible
- Attacks in Hormuz may disrupt Qatar's energy exportsAttacks in Hormuz may disrupt Qatar's energy exportsPossible
- Hormuz attacks raise fuel supply uncertainty for International Energy AgencyAttacks in Hormuz may increase fuel supply uncertainty for the International Energy Agency.Possible
- Attacks in Hormuz may threaten Europe's fuel and food supply stabilityAttacks in Hormuz may threaten Europe's fuel and food supply stabilityPossible
How it developed
Newest first. Tap a step to see who reported it.- India and Liberia launched a joint initiative during the G20 meeting hosted by Marco Rubio in Atlanta.Sub-event
India and Liberia launched a joint initiative following attacks in Hormuz affecting Indian seafarers.1 source
Keep exploring
The entities involved
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Liberia
sovereign state in West Africa
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Panama
sovereign state in Central America
- El Nino has caused a series of interconnected crises since August 1st, including reduced shipping through the Panama Canal, a state of emergency in Peru, and severe droughts in Honduras and El Salvador.
- Panama is reported to be avoiding regional crises, with Miguel Bolinaga serving as president of AES Panama.
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Hormuz
city in Hormozgan Province, Iran