UN chief warns against escalation in tensions in the Gulf

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The United States and Iran exchanged their biggest waves of strikes on shipping in recent days.

Spokesman Stephane Dujarric said: “The secretary-general is deeply concerned by reports of further escalations in and around the Strait of Hormuz over the past days, including attacks against commercial vessels and threats of additional action against maritime and energy infrastructure.” 

He said Mr Guterres was appealing to all parties concerned to exercise the utmost restraint and refrain from actions and rhetoric that could further inflame an already volatile situation.

“Any further escalation risks grave consequences for civilians, regional stability, international peace and security and the global economy,” Mr Dujarric said.

“The United Nations secretariat is ready to support all credible efforts aimed at de-escalation and a comprehensive and durable settlement.”

The International Monetary Fund (IMF) said on Thursday that, although the global economy has held up relatively well since the war between the US and Iran began at the end of February, uncertainty remained high.

IMF spokeswoman Julie Kozack told a news briefing: “So far, despite six months of war in the Middle East, the global economy has been resilient. It has weathered the shocks, the energy shocks in particular, better than feared. 

“But uncertainty, as we’ve been saying for quite some time, continues to remain high.”

She noted that the global economy is being pulled in two directions, with both a negative supply shock from higher energy and commodity prices and a positive demand shock from the AI-driven technology cycle.

She added that there were “significant differences” in how these forces were impacting individual economies.

Ms Kozack also noted that several risks to the global economic outlook remain high, including a persistent energy shock, mounting public debt and a stalled disinflation process.