New York, June 23: United Nations Secretary-General Antonio Guterres has described the challenges arising from the Middle East conflict as a significant shock to the world. He stated that it has resulted in one of the largest energy shocks to date. According to him, for many developing countries, this situation is not merely an energy crisis; it has also increased their debt burden, raised concerns about food security, and impacted their development pace.
Guterres expressed his views on the social media platform X, writing, “For many developing countries, this is not just an energy crisis; it is also a major shock related to debt, food security, and development.”
He further noted, “Any peace agreement will certainly provide necessary relief, but its effects are likely to persist for a long time.”
On February 28, a joint attack by the United States and Israel caused significant damage to several Iranian cities. In retaliation, Tehran targeted U.S. military bases in Gulf countries. Several energy plants were also affected by drone attacks. Meanwhile, mediation attempts were made by countries like Pakistan, Qatar, and Turkey, which sought a ceasefire. After forty days, a temporary truce brought some respite, but airstrikes resumed shortly after.
Ultimately, hope for peace emerged 107 days later with the signing of an agreement at the G7 summit, facilitated by Trump. The peace agreement was signed at the Palace of Versailles in France, with Masoud Pejeshkian electronically signing on behalf of Iran. Both countries met with mediators in Bergenstock, Switzerland, and agreed on a 60-day roadmap for the agreement.
The UN Chief highlighted the impact on the energy sector, noting that maritime navigation had almost come to a halt during the conflict. On one side, Iran had blocked movement in the Strait of Hormuz, while on the other, U.S. blockades hindered the transport of LPG, oil, and other resources. This disruption affected oil distribution worldwide, leading markets to feel the impact. Many countries implemented measures to control oil and gas consumption.
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