The European Central Bank (ECB) has warned that disruptions to trade through the Strait of Hormuz could have far-reaching consequences for the global economy , with supply shortages extending well beyond higher energy prices and placing up to 3 per cent of euro area production at risk in a worst-case scenario.
In a blog post published on Wednesday, ECB economists Pablo Aguilar, Lukas Boeckelmann and Antoine Kornprobst said that while
