Russian President Vladimir Putin has warned that any attempts to prevent exports of fertilizers, oil, gas, and metals will have “serious consequences on this segment of the world market and for food in general.”
Putin made the comments at a meeting with government members on March 10, according to the Russian state-run news agency TASS.
The president also doubled down on his support for comments made by Russia’s Industry and Trade Minister, Denis Manturov, who previously said that Russia would redirect exports to other countries that were not hostile to Russia if problems with “logistics” were to continue after claiming that European carriers are not loading Russian products on their ships.
Unfriendly countries to Russia include the United States, Canada, and member states of the European Union, among others.
“This obstruction of supplies concerns energy carriers, oil. Of course, it concerns gas, including liquefied gas. This also concerns fertilizers and some other goods, metals, and so on, chemical products in the broad sense of the word. As for fertilizers, then, of course, if this continues further, it will have serious consequences for this segment of the world market and for food in general,” Putin said, according to TASS.
Putin added that any attempts to interfere with the supply of Russian products will also negatively impact the global economy.
“It will also affect macroeconomic indicators because inflation is inevitable in this case,” Putin said.
On Thursday Russian Industry Minister Denis Manturov announced that Russia has temporarily banned fertilizer exports to countries it deems hostile to Moscow, according to Firstsquawk.
The Epoch Times has been unable to verify if Russia has banned fertilizer exports and has contacted the Minister of Trade and Industry for comment.
Russia’s ministry previously recommended that the country’s fertilizer producers halt exports, citing uncertainty as to whether these exports would reach foreign markets.
“Taking into account the current situation with the work of foreign logistics operators and the risks associated with it, the Ministry of Industry and Trade of Russia was forced to recommend to Russian manufacturers to temporarily suspend the shipment of Russian fertilizers for export until the carriers resume rhythmic work and provide guarantees for the fulfillment of export deliveries of Russian fertilizers in full,” the ministry said in a statement.
Russia produces 50 million tons of fertilizers every year, accounting for 13 percent of the world’s total, according to Reuters.
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