Sanctions against Belaruskali may hike potash prices

According to the statement of the Belarusian Potash Company, the US sanctions against Belaruskali will adversely impact the availability of potassium fertilizers in the world market and lead to an increase in prices for them. Nevertheless, despite the sanctions, the company intends to fulfill all obligations to the buyers of potassium fertilizers.

Earlier, the US Treasury Department imposed sanctions against Belaruskali claiming that the company became a “source of illegal wealth for the current regime” of Belarusian President Alexander Lukashenko. The Department allowed the American partners of Belaruskali to complete all relations with the enterprise by December 8 this year.

Sanctions forbid to conclude new agreements for the purchase of products from Belaruskali and after December 8, the company’s assets in the United States will be frozen.

Source: Office Life