Article

Kirill Dmitriev, head of the Russian Direct Investment Fund, stated that the closure of the Strait of Hormuz would lead to major disruptions in the global fertilizer and agricultural markets. He highlighted that around 44% of global sulfur trade, 31% of urea, 18% of ammonia, and 15% of phosphates rely on shipping through this strait. Dmitriev emphasized that any shipping disruptions could significantly impact commodity markets and increase pressure on the global agricultural sector.