According to the International Energy Agency, around 25% of the world's seaborne oil trade is transiting through the Strait of Hormuz, and the options to bypass it are limited. According to the UN Trade and Development Organization, around 30% of global seaborne fertilizer volumes pass through the Strait of Hormuz. Both have been significantly impacted by the US-Iran war. Professor Richard Wolff and producer Nicole Roussell discuss.

Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com.

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