Global trade values face severe disruptions as shipping traffic through the Strait of Hormuz remains almost completely halted following renewed military escalations. According to the United Nations International Maritime Organization (IMO), approximately 6,000 seafarers remain stranded aboard 500 commercial vessels trapped in the Persian Gulf. The ongoing crisis threatens critical energy supplies and international commerce networks.
Strait of Hormuz Gridlock Strands Thousands of Seafarers
Commercial transit through the vital waterway ground to a near-total stop after hostilities resumed in mid-July. IMO Secretary-General Arsenio Dominguez warned that ships cannot safely navigate the region while conflict persists. According to the IMO, trapped crews include trained mariners who face extreme dangers from missiles and drones without military protection.
“We need to remember that these are innocent people who are trained to do the work, that they are not trained for combat, and the vessels are not prepared to defend themselves against missiles and drones,” Dominguez stated to UN News.
The UN agency stresses that seafarers remain vital to maintaining 90 percent of global goods transport. The immediate operational priority centers on securing the evacuation of all mariners trapped since military exchanges began on February 28 between Israel, the United States, and Iran.
Energy Lifeline and International Law Violations
Before the conflict shut down operations, the Strait of Hormuz handled roughly 20 percent of global oil and gas supplies. Dominguez emphasized that safe transit cannot resume until the region is fully de-mined and guarantees are established to return traffic to pre-war levels of approximately 135 vessels daily.
The IMO also flagged illegal transit tolls imposed on merchant ships, noting that no mechanism within international law allows countries to charge fees for crossing the strait. Dominguez pointed to the 2007 Straits of Malacca and Singapore agreement as a successful model for managing international waterways without imposing arbitrary fees.
Surging Trade Values Driven by Energy Costs
Despite physical shipping halts, international trade statistics show an unexpected financial surge. According to the UN Trade and Development agency (UNCTAD), global goods sales reached $13.7 trillion in the first half of 2026, marking a 12.5 percent increase compared to the same period in 2025.
UNCTAD data reveals that higher energy prices stemming directly from the U.S.-Iran conflict account for the dramatic valuation increase rather than higher cargo volumes. Combined with a 10.5 percent rise in traded services, geopolitical supply chain bottlenecks have added roughly $2 trillion to the overall value of global commerce.
Diplomatic Engagement and Civilian Toll
Bilateral negotiations and diplomatic efforts are underway to establish long-term stability. Dominguez noted that a Memorandum of Understanding signed by Iran and the United States provides a foundational framework for ongoing discussions regarding a 14-point peace plan.
Meanwhile, independent human rights experts appointed by the UN Human Rights Council condemned recent strikes impacting civilian infrastructure. According to the human rights panel, missile strikes have damaged southern ports, railway lines, and desalination facilities, leaving thousands without fresh water while casualties mount across the region.
Worth a look