Middle East crisis live: Iran warns US blockade of strait of Hormuz would violate ceasefire

Centcom says blockade of Iranian ports to begin at 10am ET; Iran’s negotiator says ‘we will not bow to threats’; oil prices rise. Follow the latest news

• Full report: Trump says US will blockade strait of Hormuz after Iran peace talks fail

• Planeloads of negotiators and too little time: US and Iran’s 21 hours of talks

More than 32 million people worldwide could be plunged into poverty by the economic fallout from the Iran war, with developing countries expected to be hit hardest.

In a report issued amid doubts over a fragile ceasefire, the United Nations Development Programme (UNDP) said the world was facing a “triple shock” involving energy, food and weaker economic growth, reports the Guardian’s Richard Partington.

A conflict like this is development in reverse. Even if the war stops, and a ceasefire is obviously very very welcome, but the impact is already there.

You will see an enduring impact, especially in the poorer countries, where you push people back into poverty.”