The European Union imposed sanctions against Russian fertilizers
The Council of the European Union introduced the fifth package of sanctions against Russia due to its special military operation in Ukraine.
New sanctions restrict imports to the European Union of a wide range of products manufactured in Russia. The package also includes fertilizers without any specifics: it might be both mineral and organic fertilizers.
“The decision of the Council of the European Union on the ban of Russian fertilizers looks like a strategic mistake. As of today, several European companies reduced or completely stopped the output of mineral fertilizers, due to which fertilizer prices have raised sharply. After the fifth package of sanctions is imposed, fertilizer prices will reach new heights. Such dynamics threaten the spring sowing campaign and the future crop harvest,” commented the information and analytical service of Fertilizer Daily.