Russia Says Strait of Hormuz Crisis Affects Russia Too, Warns of Broader Economic Impact

UN, April 23. /TASS/. The restricted shipping in the Strait of Hormuz and the American naval blockade of Iran affect Russia, said Deputy Foreign Minister Alexander Pankin. "Of course, it affected everyone, it would be foolish to say that it did not affect Russia," he told reporters. "People only look at one dimension, that since Russia is an oil exporter, it only benefits from it. However, firstly, high prices depress demand. Secondly, prices for fuel, fertilizers and many other things are rising. This makes us vulnerable, because we import a lot, and they will become more expensive. At the same time, we are definitely more or less self-sufficient." According to Pankin, the current situation is extremely difficult. "This crisis is comparable to the major crises of the past 50-60 years," he added. Earlier, Iranian Foreign Minister Abbas Araghchi said the Strait of Hormuz was open for commercial vessels. US President Donald Trump said that Washington will continue the naval blockade of the Islamic Republic until the parties sign a final deal. After that, the Navy of the Islamic Revolutionary Guard Corps (IRGC, elite army units) said Iran had blocked the strait until the US naval blockade was completely lifted. The IRGC called on the shipowners to comply exclusively with Iran's recommendations and described Trump's statements about the situation in the Strait of Hormuz as "not credible."