Russia has put forward an initiative to establish joint food reserves with BRICS and EAEU nations amidst growing risks of a global food crisis. According to Reuters, the proposal was announced by Alexander Maslennikov, Deputy Secretary of the Russian Security Council.

The heightened risks stem from the effective disruption of operations in the Strait of Hormuz, a vital waterway through which a significant portion of the global fertilizer trade previously passed. Estimates suggest that if the current supply deficit persists until summer, yields for key agricultural crops could drop by up to 50%, potentially triggering a sharp surge in food prices.

Under such a scenario, the number of people facing food shortages could rise to 673 million. International organizations—including the World Bank and the IMF—have already issued warnings regarding the potential repercussions of rising energy and fertilizer prices.

At the same time, Russia views the crisis as an opportunity to expand its exports. The country already holds a strong position in wheat markets—including in Egypt—and actively supplies agricultural products to China and India.