OREANDA-NEWS. Russian President Vladimir Putin instructed the government to extend restrictions on the export of certain types of fertilizers until August 31, providing for the possibility of further prolongation of this measure. The corresponding item is contained in the list of presidential instructions published on the Kremlin website. A report on this issue will be provided by May 31, then quarterly.

To ensure the extension until August 31, 2022 of the procedure for applying quantitative restrictions on the export from the Russian Federation to states that are not members of the Eurasian Economic Union, certain types of fertilizers, providing for the extension of this procedure, if necessary (quarterly), the instruction says.

A month after the imposition of sanctions against Russia, the United States equated Russian fertilizers with essential products in order to prevent a shortage of chemical products. The market is confident that the same will now be done in Europe, which will establish traditional supply chains.

As industrial expert Leonid Khazanov explained, Russian fertilizers play an extremely important role in the American agricultural sector, since local production cannot satisfy all the needs of farmers. According to him, the US had a choice between mass demonstrations by farmers or concessions to fertilizer importers from Russia.

He also noted that the United States is considering abolishing import duties for fertilizer suppliers. In his opinion, due to the "crazy sanctions" of the United States and Europe against Russia, an artificial shortage of fertilizers and an industrial crisis have arisen all over the world. Khazanov stressed that due to rising gas prices, producers of ammonia fertilizers in Europe are forced to raise prices for their products.