Panama City:Amid the escalating Middle East conflict, Panama has reaffirmed the permanent neutrality of the Panama Canal, emphasizing its role as a vital pillar for global trade. This declaration follows the month-long blockade of the Strait of Hor
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Panama City:Amid the escalating Middle East conflict, Panama has reaffirmed the permanent neutrality of the Panama Canal, emphasizing its role as a vital pillar for global trade.
This declaration follows the month-long blockade of the Strait of Hormuz by Iran, which has severed a primary route for one-fifth of the world’s oil and gas.
The closure has triggered a significant surge in maritime traffic, with daily arrivals at the canal increasing from 34 ships in January to as many as 50 today.
During a call with Israeli Foreign Minister Gideon Saar, Panamanian Foreign Minister Javier Martínez-Acha stressed the critical need to preserve stable energy transit routes.
Handling 5% of global maritime trade, the canal remains a strategic link connecting major economies including the United States, China, South Korea, and Japan.
Photo Credits: AFP
