Dialogos

KEVE General Secretary: Potential Disruptions to Supply Chain and Price Increases

Published March 2, 2026, 09:02
KEVE General Secretary: Potential Disruptions to Supply Chain and Price Increases

The General Secretary of KEVE, Philokypros Rousounides, warned that the closure of the Strait of Hormuz could lead to disruptions in the supply chain and commercial activity, with potential price increases. He anticipates delays and increases in transportation and insurance costs due to the war. The rise in prices is also affected by the increase in the cost of oil, which has risen by 10% and is expected to exceed $100-120 per barrel. KEVE is monitoring the situation and calls for calm, while considering alternative trade routes in case of shortages. KEVE had contacts with chambers of commerce in other countries to help Cypriot businesses that may be facing problems, but no such incidents have been reported so far. KEVE remains in constant contact with the chambers of commerce and monitors the situation.