The Iran conflict and the ensuing sporadic closures of the Strait of Hormuz have already battered the global economy, with some estimates putting the damage at a staggering $2.2 trillion worldwide. The greatest impacts have been in three areas: disruption to roughly 20% of global oil and LNG supplies, which sent energy prices soaring and forced nations to draw down reserves; helium supply shortages that caused industrial bottlenecks; and a combination of supply shocks and rising costs that has unsettled global inflation and stock markets.
The apparent collapse of the US-Iran ceasefire has again rattled markets that were just beginning to steady, and conditions may soon worsen further. Current geopolitical dynamics suggest the Houthis could enter the fight, imperiling passage through the vital Bab el-Mandeb Strait and threatening even greater disruption to global trade.
Please join us for a discussion on the implications of the conflict and the options available for global trade, featuring Vice Admiral Kevin Donegan and Marwan Mahmoud El Sammak. MEI Senior Fellow Mirette F. Mabrouk will moderate.
Speaker Biographies
Vice Admiral Kevin Donegan, USN (ret.), is a Distinguished Military Fellow at the Middle East Institute. He previously served as Commander of the US Navy’s Fifth Fleet and Commander of the 32 Nation Combined Maritime Forces in the Middle East. In those roles he led teams that planned and executed joint and combined combat, counter-terrorism and anti-piracy operations at sea and in Iraq, Syria, Afghanistan, and Yemen.
Marwan Mahmoud El Sammak is a visionary maritime executive and Chairman & CEO of Ship & CREW S.A.E. and Hapag-Lloyd Egypt, leading some of Egypt’s most prominent maritime, port operations, and logistics organizations. With more than 30 years of industry experience, he specializes in maritime transport, port operations, terminal management, shipping, and integrated logistics solutions across Egypt’s major ports.
Mirette F. Mabrouk is a Senior Fellow at the Middle East Institute, where she focuses on economic development, regional security, and sustainable development issues in the Middle East and North Africa. Prior to joining MEI, she served as the deputy director and director for research and programs at the Rafik Hariri Center for the Middle East at the Atlantic Council.
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