Financial sanctions and other restrictions on Belarus and Russia resulted in a 20% drop in potash exports from the region compared to the same period last year.

Export of potash fertilizers

It is reported by the railway magazine Railway Supply.

In normal times, the two countries’ fertilizer production and supply account for 40% of the global market, Nutrien noted in a quarterly report.

The decrease in the share of potash companies from Belarus and Russia in the global market allowed Nutrien to increase its revenue and profit by several times.

Recall that in Belarus, statistics on the export of potassium were closed last year after the industry fell under Western sanctions.

Last year, the EU imposed a ban on the supply and transit of part of Belaruskali’s products, the US imposed sanctions against the company itself and BPC, the official exporter of the products. Canada and the United Kingdom joined the restrictive measures.

At the beginning of this year, Lithuanian Railways stopped the transportation of potash fertilizers from Belarus for deliveries to third countries. Later, their transportation to Ukrainian seaports was stopped.

The Ministry of Finance confirms the decrease in budget revenues of industries that fell under sanctions in March this year.

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