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# Russian chemical industry lost $5.5 billion due to imposed sanctions

Publication Date: 2023-07-27T13:00:35-04:00
Last Updated: 2023-07-26T02:21:07-04:00

Author: Dmitry Savinsky (https://www.fertilizerdaily.com/author/dsavinsky/)

Categories: [Corporate](https://www.fertilizerdaily.com/corporate/), [Markets](https://www.fertilizerdaily.com/markets/)

![Russian chemical industry lost $5.5 billion due to imposed sanctions](https://www.fertilizerdaily.com/wp-content/uploads/2023/07/iStock-1460500012.jpg)

The reason is the sanctions and non-compliance with the terms of the grain deal.

According to Leonid Khazanov, an independent expert in the field of industry and energy, the losses of Russian fertilizer producers due to sanctions and non-compliance by Western countries with the terms of the grain deal are estimated at $5.5 billion.

The expert believes that due to the blocking of Russian fertilizers in European ports, domestic producers of mineral fertilizers have lost about $300-500 million. Another $4-5 billion was lost due to Western sanctions.

Despite the fact that the grain deal provided for the unblocking of Russian mineral fertilizers in the ports, only about 100 thousand tons of the arrested 300 thousand tons were taken out.

Tags: [mineral fertilizers](https://www.fertilizerdaily.com/tag/mineral-fertilizers/)

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