There is no smell of sulfur: the conflict in the Persian Gulf threatens its shortage

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Forbes on the structure of the global sulfur market and the production and export of sulfur in Russia.

Sulfur is actively used in agrochemistry in the form of ammonium sulfate, simple superphosphate and as an integral part of complex fertilizers, Alexey Belogoryev notes. According to him, sulfur is the fourth most important macronutrient used for soil fertilization in agriculture, after nitrogen, phosphorus and potassium. Sulfur is used in the production of matches, pyrotechnics, in the vulcanization of rubber, and sulfur dioxide is used in the preservation of dried fruits and wine.

According to S&P Global, seven years ago Russia was one of the world's largest exporters of sulfur. In 2019, it supplied 3.9 million tons of raw materials to world markets. The main markets for Russian sulfur were Morocco and Senegal, exporters of phosphate fertilizers, as well as large agricultural producers — China, India, Brazil and Turkey. But by 2024, S&P notes, Russian shipments had almost quadrupled, amounting to just over 1 million tons. As early as October 2025, S&P sources reported disruptions in the supply of sulfur from Russia and the country's transition to imports.

Why did the fracture occur? The reduction in gas production is to blame. The decline in exports began in 2022 due to an increase in domestic consumption, a reduction in gas production and problems with equipment at gas processing plants, for which there were not enough imported spare parts. Later, drone attacks were added to these reasons, Belogoryev says.