UNCTAD Trade and Development Board 73rd session - Item 2: High-level segment :The impact of Hormuz Disruptions on Developing Countries: Energy, Food and Development - Statement by Greece

"Mr President,
Excellencies,
Distinguished delegates,

We align with the statement delivered by the European Union and note the following: The disruption of the Strait of Hormuz has demonstrated once again that peace, international law and development are inseparable.

A crisis concentrated around one narrow maritime passage has transmitted shocks across continents: through higher energy and transport costs, fertilizer shortages, food-price pressures and tighter financial conditions. These effects fall disproportionately on developing countries – particularly least developed countries, small island developing States and economies already constrained by high debt and limited fiscal space.

For Greece, as a maritime nation, there is also a fundamental lesson. Freedom and security of navigation and respect for international law, including the international law of the sea and UNCLOS, are global public goods. 

Maritime routes connecting nations and peoples cannot become instruments of coercion or confrontation. Commercial shipping, ports, seafarers and civilian infrastructure must be protected.

The present conflict provides a stark illustration of a broader truth: when international law is disregarded, the consequences spread rapidly across borders and are often borne most heavily by countries and populations that had no part in creating the crisis.

This should strengthen, rather than weaken, our determination to uphold an international order based on rules rather than force.

But reaffirming principles is not enough. We should translate them into practical action:

First, the international community should strengthen mechanisms for de-escalation, preventive diplomacy and protection of freedom of navigation, firmly anchored in the UN Charter and the law of the sea.

Second, we should develop a more effective international response to the economic consequences of major disruptions of strategic maritime routes, including rapid assessment by UNCTAD and other relevant institutions and targeted assistance to the most vulnerable developing economies. We believe that UNCTAD in particular could play an even stronger role in anticipating and responding to the development impact of major disruptions to global trade routes. Building on its existing analytical capacities, UNCTAD could reinforce its rapid-response mechanism for major trade and maritime disruptions, providing early assessment of their impact on energy, food, fertilizers, freight and insurance costs, identifying the developing countries most exposed, and translating this analysis into timely recommendations for action by governments, international financial institutions and development partners.

Third, international financial institutions and development partners should be ready to provide temporary financing and fiscal space to countries facing sudden increases in energy, fertilizer and food-import bills.

Fourth, we must invest in longer-term resilience: diversified supply chains, renewable energy, stronger regional energy interconnections, food security and more resilient transport infrastructure. For the Global South, accelerating the energy transition is not only a climate objective; it is also a means of reducing vulnerability to geopolitical shocks.

Greece stands ready to contribute, nationally and through the European Union, to diplomatic and humanitarian initiatives aimed at de-escalation, restoration of secure maritime trade and alleviating the suffering of populations most directly affected by the conflict.

The lesson of Hormuz should therefore be clear: international law is not an abstraction. It is part of the infrastructure of development. When that infrastructure breaks down, the poorest and most vulnerable often pay the highest price.

Our response must be to strengthen it.

Thank you."