The Clean Air and Energy Studies Center, based in Finland, says that in the first six months of the Middle East war, disruptions by the Islamic Republic in the Strait of Hormuz have added $330 billion to the energy import costs of the world’s energy importers.

The report adds that the Islamic Republic’s disruption of shipping in the Strait of Hormuz has caused liquefied natural gas (LNG) prices in Asian markets to rise by 75% and in Europe by 60%. Diesel prices have also increased by 59% in Asian markets and by 35% in European markets.

The European Union has paid an additional $78 billion, China $35 billion, and India $22 billion for higher energy import costs.

Nearly half of the increase in the world’s energy import costs has been related to crude oil, 22% to diesel, 11% to gasoline, 11% to liquefied natural gas, and 6% to aviation fuel imports.