Sanctions Block Exports of Over 8Mln Tonnes of Russian Fertilizers, Products

The Russian Ministry of Foreign Affairs has published a balance sheet on the impact of Western sanctions on Russian exports.

Over 8 million tonnes of Russian fertilizers and raw products for food cultivation intended for exports remain blocked at transshipment terminals due to Western sanctions, the Russian Foreign Ministry said on Friday, August 26.

The governmental body claims that despite statements made by Washington and Brussels that Russian sanctions do not apply to food products and fertilizers, there are still obstacles in place for bank settlements, insurance, and shipment of goods.

“To date, due to Western sanctions, 7-8 million tonnes of fertilizers and raw products, enough for food cultivation for 100 million people, remain blocked at transshipment terminals alone,” the ministry said on its website.

See below the track record of the volume of fertilizer imports carried out by Brazil from Russia between January 2021 to June 2022. The chart below was designed with data collected by Datamar’s business intelligence team on the DataLiner platform.

Brazilian imports of fertilizers from Russia | Jan 2021 – Jun 2022 | WTMT

Source: DataLiner (click here to request a demo)

The ministry underscored that Russia’s share in the world food market structure is much larger than Ukraine’s, adding that Russia exported 43 million tonnes of grain in 2021 and is expecting to export 50 million tonnes this year.

Russia is also the largest exporter of fertilizers, with its share in the global markets amounting to 25%, or 27 million tonnes.

The ministry urged all sides to adhere to the Istanbul agreements, the Black Sea grain initiative, to ensure the maintenance of global food security and to reduce food-related risks.

On July 22, Russia, Ukraine, and Turkey signed an UN-brokered initiative to provide a humanitarian maritime corridor for ships to carry food and fertilizers from Black Sea ports.

Three key Ukrainian ports — Odessa, Chornomorsk, and Yuzhne — were unblocked to resume exports. A joint coordination center was set up to monitor the implementation of the initiative, including ensuring that cargo ships do not carry unauthorized goods or personnel.

The series of documents also lifted restrictions on supplies of Russian products for export and provided for Moscow’s assistance in exporting Ukrainian grain.

Source: Brasil 247

To read the full original article, please go to: https://www.brasil247.com/mundo/sancoes-bloqueiam-exportacoes-de-mais-de-8-milhoes-de-toneladas-de-produtos-da-russia

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