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Strait of Hormuz closure may trigger global economic crisis — Jeffrey Sachs

The director of the Center for Sustainable Development at Columbia University says that "an enormous, extremely important strategic flow of resources" comes through the strait

NEW YORK, April 25. /TASS/. As long as the Strait of Hormuz remains closed, a serious global economic crisis is brewing, a renowned American economist and Director of the Center for Sustainable Development at Columbia University (New York), Professor Jeffrey Sachs said.

"Right now there is an ongoing, building, global, serious economic crisis, and that is because a narrow stretch of water through which comes an enormous, extremely important strategic flow of resources, oil and gas, obviously, but also fertilizers and petrochemicals and many, many other key commodities, aluminum, and others, is closed," he told journalist Tucker Carlson in an interview.

US President Donald Trump told reporters at the White House on April 23 that the Strait of Hormuz remains closed because of the demands he made to Iran.

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