Russia develops measures to neutralize risks of the European energy crisis

Prime Minister Mikhail Mishustin said that by November 1, 2021, President of Russia Vladimir Putin instructed the government to develop measures to neutralize the influence of energy shortages in Europe on Russia.

“The results of the next agricultural year are being formed already this autumn. Therefore, it’s necessary to smooth the impact of the world conjuncture. President instructed to carefully analyze the current situation and, by November 1, introduce measures to neutralize the possible negative consequences in Russia due to the energy crisis in the European countries. Including the destabilization of the markets of nitrogen fertilizers, metallurgical products, and food,” said Mikhail Mishustin.

According to the statement of the Minister, the domestic production of mineral fertilizers has long been integrated into the global market and brings Russia a significant part of its foreign exchange earnings.

“This situation is a double-edged sword. Government and businesses receive more revenue, however, the pressure on our internal price environment is inevitably growing. After all, to get a good harvest, one needs to apply fertilizers and preferably at affordable prices,” added Mikhail Mishustin.