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On August 24, UN Secretary-General António Guterres stated at a press conference that the ongoing conflicts in the Middle East and Ukraine are severely impacting global trade, energy, and food supplies by disrupting maritime shipping. The shipping routes in the Strait of Hormuz, Red Sea, and Black Sea are obstructed, leading to restrictions on the transport of essential goods such as oil, fertilizers, and food, which has resulted in significant increases in oil prices, container shipping costs, and fertilizer expenses, further exacerbating global hunger and the difficulties faced by vulnerable populations. Guterres announced that in response to the Strait of Hormuz crisis, the UN has established a working group aimed at creating a UN-coordinated registration, verification, monitoring, and conflict de-escalation mechanism, initially focusing on ensuring the transport of fertilizers and related raw materials. The Secretary-General emphasized that this mechanism will not alter the sovereign rights of any country nor replace the political efforts needed to restore freedom of navigation and resolve conflicts, but it can serve as a pragmatic first step to reduce risks, ensure the transport of essential goods, and rebuild trust.

On August 24, UN Secretary-General António Guterres stated at a press conference that the ongoing conflicts in the Middle East and Ukraine are severely impacting global trade, energy, and food supplies by disrupting maritime shipping. The shipping routes in the Strait of Hormuz, the Red Sea, and the Black Sea are obstructed, leading to limited transportation of essential goods such as oil, fertilizers, and food, resulting in significant increases in oil prices, container shipping costs, and fertilizer expenses, further exacerbating global hunger and the difficulties faced by vulnerable populations. Guterres announced that to address the crisis in the Strait of Hormuz, the UN has established a working group aimed at creating a UN-coordinated registration, verification, monitoring, and conflict de-escalation mechanism, initially focusing on ensuring the transportation of fertilizers and related raw materials. The Secretary-General emphasized that this mechanism will not alter the sovereign rights of any nation nor replace the political efforts needed to restore freedom of navigation and resolve conflicts, but it can serve as a pragmatic first step to reduce risks, ensure the transportation of essential goods, and rebuild trust.

On August 25, the U.S. Treasury announced the establishment of a 'Quantum Security Preparedness Task Force' aimed at leading the financial industry’s transition to quantum-resistant cryptographic technology, enhancing the security of sensitive data, critical infrastructure, and the digital economy. Treasury Secretary Yellen stated that the U.S. must be at the forefront of technological security, and this task force will ensure that the financial system remains secure, stable, and competitive in the face of new technological challenges. The task force brings together various stakeholders, including government agencies, financial institutions, and technology providers, focusing on three main tasks: facilitating the migration to post-quantum cryptography in the financial sector, improving third-party supply chain security preparedness, and assessing the risks posed by digital assets and emerging technologies. The Treasury emphasized that once quantum computing matures, it will have the capability to break current encryption systems, posing long-term threats to financial data, payment systems, digital identities, and market infrastructure. Therefore, the early deployment of post-quantum cryptographic technology is a crucial step in safeguarding economic security and enhancing the resilience of the financial system.