The US Treasury extended the release of Russian agricultural products from sanctions

The US Treasury has extended the release of medical and agricultural products from anti-Russian sanctions. The Department's Office of Foreign Assets Control (OFAC) has issued a corresponding new 6°C General License.

According to it, “transactions related to RUSSIA related to the production, sale, transportation or provision of agricultural goods, agricultural equipment, medicine, medical equipment, its components or software updates for it” are allowed. The 6°C license completely replaced the 6B license issued on 14 July.

The following are exempt from sanctions:

food for humans (including raw, processed and packaged foods, live animals, vitamins and minerals, nutritional supplements, etc.); food crop seeds; fertilizers, including organic ones, as well as fertilized fish eggs or animal embryos; medical devices and means of prevention, diagnosis and treatment of covid-19 .

The US Treasury will warn banks against too tough enforcement of sanctions Politics

The United States excluded some goods from the list of anti-Russian sanctions, including fertilizers, medical equipment and medicines, on February 24. They no longer apply to inorganic fertilizers, seeds and reproductive materials, as well as food. The US allowed their EXPORT, import and re-export.

On January 15, the Financial Times reported that Russian fertilizer exports in the first ten months of 2022, according to the UN Food and Agriculture Organization, jumped 70% to $16.7 billion compared to the same period in 2021. Moscow has increased exports to India, Turkey and Vietnam, and revenues have increased due to higher fertilizer prices. At the same time, the cost of fertilizers began to rise even before the hostilities in Ukraine, when Russia reduced the supply of natural gas, the main raw material for nitrogen fertilizers.

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