According to Paolo Gentiloni of the European Commission for Economy, the cost of shipping goods to Europe from Asia increased by 400% and over time by 10-15 days due to the cargo diversion caused by the attacks on the Red Sea.
According to the International Maritime Organization (IMO), due to the attacks in Red Sea, there are 36% fewer ships that can pass through the Suez Canal and the cargo has decreased by more than 60%. The cost of fuel and ship insurance have also increased.
By Mariam Mtivlishvili
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