American officials are reportedly encouraging companies to ease supply shortages by buying Russian goods
US officials are “quietly” urging agricultural firms to boost Russian fertilizer imports amid growing shortages and a looming international food crisis, Bloomberg news agency reported on Monday, citing unnamed sources familiar with the discussions.
Companies fearful of US sanctions have apparently all but ceased purchases, despite loopholes built into the penalties.
The US and most EU countries have imposed tough restrictions on trade with Moscow since its attack on Ukraine in late February, and are now facing a dilemma as shipping firms seek to avoid the Russian fertilizer trade. The sanctions make exemptions for the item – of which Moscow is a key global exporter – but companies have nonetheless been reluctant to buy, helping to drive a 24% drop in Russian fertilizer sales this year.
The conflict in Ukraine has fueled food…