US permission to export Russian fertilizers may lead to stabilization of the situation on the world food market. This was stated to RIA Novosti by the director of the ACRA group of sovereign and regional ratings, Mikhail Nikolaev.
Earlier, the US Treasury issued a general license that allowed the transactions of food, fertilizers, seeds, medicines and medical equipment with Russia.
According to the expert, the most important point is the permission to export mineral fertilizers. Russia is one of the largest exporters of fertilizers to the world market. According to 2021 data, the share of mineral fertilizers in Russia’s total exports is about 2.5%.
It is noted that in 2021, only 0.2% of Russian exports accounted for the supply of fertilizers to the United States.