European nations bolster Russian economy with soaring fertilizer imports
Despite the sanctions imposed on the Kremlin, Europe continues to support the Russian economy. Germany, Belgium, and Poland are importing fertilizers from Russia massively. According to Eurostat data, fertilizer imports increased by up to 920 percent, reports the German daily "Die Welt."
30 May 2024 08:16
The value of goods imported from Russia to Europe after the sanctions imposed due to the invasion of Ukraine decreased from 63.6 billion euros to 9.6 billion euros. This is all due to the decline in oil, coal, and gas sales, reports "Die Welt," which is cited by "Deutsche Welle." However, these data may be distorted due to the high prices of these raw materials in 2022.
Media reports that since Russia invaded Ukraine, fertilizer imports to Germany and other EU countries have drastically increased. According to Eurostat data, during the fertilization period of 2022-2023, Russia exported 920 percent more fertilizers to Germany than before the invasion of Ukraine. Thus, in 2023, German importers bought Russian fertilizers worth 237 million euros, four times more than in 2021.
Importers in Germany are financing the Russian war: due to good sales by fertilizer producers, Russia introduced a 7 percent export duty on fertilizers, and the money flows into the state treasury, the daily reports.
However, other countries have also seen an increase in imports. "Die Welt" reports that in the same period, the amount of fertilizers imported from the Netherlands increased by 85 percent, from Poland by 84 percent, and from Belgium by 662 percent.
German media also remind us that the sale of liquefied natural gas (LNG) from Russia has recently increased. "The Finnish organization Research on Energy and Clean Air (CREA) estimates that the EU imported at least 20 billion cubic meters (706 billion cubic feet) of Russian LNG last year for 8.2 billion euros," we read.
