<p>A United Nations Conference on Trade and Development (UNCTAD) assessment report released on the 1st indicated that the Strait of Hormuz remains effectively blocked, exacerbating global economic pressure. The report showed that as a critical channel for global energy trade, transportation activities in the Strait of Hormuz have nearly come to a standstill. The average daily vessel traffic decreased from approximately 130 ships in February to only 6 ships in March, a drop of about 95%. (Xinhua News Agency)</p>

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<p>A report released by the United Nations Conference on Trade and Development (UNCTAD) stated that the blockade of the Strait of Hormuz has exacerbated global economic pressure, with transportation activities nearly ceasing and ship traffic significantly decreasing. The report highlighted that the blockade affects global oil and natural gas supplies, potentially leading to sustained high energy prices and increasing inflationary pressures. The risks are particularly higher for regions like South Asia and Europe that rely on Middle Eastern energy. Global merchandise trade growth is projected to slow down in 2026, with developing countries facing risks of financial pressure and currency depreciation</p>

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UN Agency: "Blockade" of Strait of Hormuz Intensifies Global Economic Pressure