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U.S. Sanctions on Belarus Potash Leave Out Its Sole Seller

  • OFAC has announced sanctions on major producer Belaruskali
  • Trader handling Belarus exports not included in sanctions list
Updated on

Potash buyers fretting over U.S. sanctions on Belarus’s state-owned producer, which controls about a fifth of the global market for the crop nutrient, might not need to panic right away.

The penalties announced on Monday target Belaruskali OAO, which ships much of its products to China, India and Latin America, along with more than a dozen companies with ties to President Alexander Lukashenko. Yet Belarusian Potash Co., in which Belaruskali owns a 48% stake and which is the sole handler all of the country’s potash exports, wasn’t included in the sanctions list.