Strait of Hormuz's closure halts around 50% of global fertilizer exports - Russian Security Council deputy secretary

MOSCOW. March 31 (Interfax) - The closure of the Strait of Hormuz has slashed global fertilizer exports by 50%, potentially disrupting the sowing campaign in Asia, Russian Security Council Deputy Secretary Alexander Venediktov said on Tuesday.

"The closure of the Strait of Hormuz has halted approximately 50% of global fertilizer exports, which could disrupt the sowing campaign in Asia. Prices for nitrogen supplements have increased by 30%," Venediktov said at a briefing for heads of diplomatic missions and representative offices.

"Oil production has been cut by 2.2 million barrels per day. As a result, supplies to Europe and Asia have been reduced by 40% compared to planned levels," Venediktov said.

The region's desalination plants have already decreased freshwater production by 30%, he said. "This threatens agriculture and the life support system in general," Venediktov said.