Launching a scathing attack on the US and the West, Russia’s President Vladimir Putin has warned that the price of fertilisers across the globe may spike further if the West continues to create “difficulties” for his country. Russia is one of the world’s largest suppliers of mineral fertilisers.
Addressing members of the Russian governmentPutin on Thursday told the West not to blame Russia for rising global energy prices since he ordered a ‘special military operation’ against Ukraine on February 24.
US SANCTIONS ON RUSSIA
Reacting sharply to the invasion of Ukrainethe US and its allies have imposed crippling economic sanctions on Russia. The US has also banned the import of oil, liquefied natural gas, and coal from Russia which the White House said will further deprive President Putin of the economic resources he uses to “continue his needless war of choice,” according to a PTI report.
PUTIN WARNS RISE IN FERTILIZERS PRICES
In his remarks, reported by Russia’s state-run TASS news agency, Putin predicted a rise in prices for fertilisers in the world if other countries continue to create difficulties for Russia.
“Russia and Belarus are one of the largest suppliers of mineral fertilisers to world markets. If they continue to create any problems with financing this work, insurance, logistics, delivery of our goods, then the prices, which are already are already exorbitant, will grow even more,” he said.
WORLD’S BIGGEST EXPORTER OF FERTILIZERS
Russia produces 50 million tonnes of fertilisers annually accounting for nearly 13 per cent of the world’s total output.
Russia is the world’s biggest exporter of synthetic fertiliser, supplying more than a fifth of urea, a key fertiliser used in the UK. It has put restrictions on exports, and supplies are also being dented by ships avoiding Russian ports while insurers will not cover the cargo amid fears it will be hit by a trade embargo, The Guardian newspaper of the UK reported on Tuesday.
ENERGY PRICE HIKE
Putin also said that he believes that the West is trying to blame Russia for the surge in energy prices in the world.
“The prices there (for energy carriers in the EU countries) are growing, but not through our fault. This is the result of their own miscalculations. They should not blame us for this,” Putin was quoted as saying by TASS news agency.
He also said that Russia was fulfilling all its obligations to supply energy resources to Europe and other regions of the world.
“As for those countries that are taking unfriendly steps towards our country and economy, we are well aware [that] they are calling on their citizens to tighten their belts, dress warmer and, in general, point to the sanctions that they impose against us as the reason for the deterioration of their situation,” the Russian president said.
“It all looks very strange, especially since we are fulfilling all our energy supply obligations,” Putin stressed.
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