Russian Finance Minister Anton Siluanov has warned that a blockade of the Strait of Hormuz has already caused a global energy crisis and could lead to a worldwide recession, increased food and fertilizer prices.

• The blockade is contributing to disruptions in supply chains and higher logistics costs, weakening global economic growth.
• Anton Siluanov, Russian Finance Minister, stated that energy-importing nations in Asia and Europe, along with the poorest states in Africa, will be the most affected.
• Russia, while benefiting from rising energy prices to replenish its budget, is also experiencing supply chain disruptions and increased logistics costs due to the situation.