Revenue from the sale of fertilizers in Russia increased by 70% in 2022 slight decrease in volumes soldfell by 10%, the price increase caused Moscow to cash in the first 10 months of last year $16.7 billion. The data, released by the Financial Times, was processed by the FAO (Food and Agriculture Organization) and contradicts forecasts of a collapse in these revenues as a result of the war in Ukraine. Fertilizers are for now anyway exempt from Western sanctions To ensure global food security, Russia is even the largest fertilizer exporter in the world. However, difficulties in securing the load could have led to problems with normal transport. On the contrary, Russian sales are increasing even to countries such as India, Vietnam and Turkey. Russian fertilizers have become even more in demand after high gas prices (which are used in the production process) pushed them higher some European manufacturers to cease operations.
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As a result, Russian revenues may start to decline reduction in gas prices, from over 300 euros per megawatt hour at the end of the summer to the current ones 63 euros, Dynamics favored by an unusually mild winter and the arrival of plenty of LNG in Europe (LNG) transported by ship. However, the data suggests a fundamental issue that was already raised by some observers when the embargo on Russian oil was introduced. actually The sanctions apparatus gives Russia several loopholes and the ability to continue raising sufficient cash flows to fund an “infinite war” in Ukraine.
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