Cyprus businesses brace for disruption as Middle East tensions rise

The possible closure of the Strait of Hormuz is expected to disrupt supply chains and commercial activity, with knock-on effects on prices, the secretary general of the Cyprus Chamber of Commerce and Industry (Keve), Philokypros Rousounides, said on Monday.

Speaking to the Cyprus News Agency (CNA), Rousounides said that such a development would create disruptions in the supply chain and in the country’s commercial activity, pointing to delays, rising transport costs and sharply higher insurance premiums due to the war.