The armed conflict in Ukraine showed the obvious need of the world community in Russian large exporters of fertilizers. It is reported by Bloomberg.
At the beginning of the Russian special operation in Ukraine, about hundreds of thousands of tons of fertilizers from Russia were blocked in European ports. According to studies cited by Bloomberg, this will lead to a drop in food production by 20%, and African countries will be affected the most.
According to the UN, in the near future, global turmoil will occur in world markets, with the first manifestations of which the world will face as early as 2023. The need for fertilizers is seen as a strategic security issue for each of the countries, as it can lead to global problems.
Today, Russia and Belarus are exporters of about a quarter of all world fertilizers for agricultural crops. According to the authors of the article, the sanctions have created a number of insurmountable problems in logistics. Insurance companies, in turn, are faced with huge bills that they are unable or unwilling to cover. At the same time, world banks are also unable to conduct financial transactions and payments, as Russia was disconnected from the SWIFT payment system due to sanctions.
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