Siluanov spoke about the consequences of the situation in the Strait of Hormuz.

The situation in the Strait of Hormuz has triggered a global energy crisis, followed by rising prices for fertilizers and food, as well as the threat of a recession in the global economy. This was announced on May 13 by Finance Minister Anton Siluanov.

"This has already led to the oil crisis. If the strait is blocked or navigation is restricted, one fifth of global oil consumption and a significant proportion of LNG (liquefied natural gas) are lost. The next step is to increase the price of fertilizers, the prices of which have already increased by 30%, which means that food will become less affordable," Siluanov said in an interview with RIA Novosti.

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