Washington has eased sanctions on Russian agricultural products, including fertilizers, placed on Moscow over the crisis in Ukraine. The move aims to protect US farmers from a shortage of chemical products as food prices in the country continue to soar.
The Office of Foreign Assets Control (OFAC) of the US Treasury recently published a new general license dated March 24, which effectively removed restrictions on the import of Russian fertilizers.
The document authorized transactions relating to the exportation and re-exportation of agricultural commodities, banned last month by Washington’s ‘Russian Harmful Foreign Activities Sanctions Regulations’.
The list of agro-related products now exempt from sanctions includes food for humans, live animals, vitamins and minerals, food additives and supplements, seeds for food crops, fertilizers, and reproductive materials.
READ MORE: US ramps up imports of ‘banned’ Russian oil
Exemptions also cover medicine, medical devices, software updates, and replacement parts for medical devices and Covid-19-related medical components. Analysts say the EU may soon mirror the measure.
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