Fertiliser crisis: ICC urges US-Iran Hormuz deal

The International Chamber of Commerce has urged Washington and Tehran to accept United Nations facilitation to ease a fertiliser supply crisis linked to the Strait of Hormuz blockade.

ICC Secretary General John Denton told AFP that the issue was when Iran and the United States would agree to use a UN-backed mechanism to improve access to fertiliser and reduce pressure on the global food system. “That's a political decision,” he said.

Global trade in fertilisers used in agriculture has slumped since the start of the Middle East war, with shipments of raw materials for fertiliser production blocked through the strait. About a third of the world's fertiliser used to pass through the Strait of Hormuz.

UN Secretary-General Antonio Guterres last month proposed that the world body act as a “neutral facilitator” by registering and verifying ships carrying fertiliser and related products. The proposed coordination mechanism would be managed from Oman, on the southern side of the strait opposite Iran.

Denton said the ICC had worked with the UN and its agencies to develop the mechanism and provide practical input on ships, seafarers, insurance and ports. He said the mechanism must “give everyone confidence that ships could be allowed through” and added: “we're ready to run”.

Denton said he hoped France, which is chairing the UN Security Council this month, could draw attention to the crisis and help mobilise use of the mechanism.