16 Jun 2022 09:26

Belarusian potash exporters allowed to pay duties in Russian rubles, yuan

MINSK. June 16 (Interfax) - Belarusian President Alexander Lukashenko has expanded the list of currencies in which export duties on potash fertilizer can be paid, the president's press service reported, citing an order Lukashenko signed.

"The document is aimed at expanding the types of currencies in which the export customs duty on potash fertilizers can be paid. The order allows for the possibility of its payment in Russian rubles, Chinese yuan, U.S. dollars and euros," the statement said. Before this order was issued, potash export duties could be paid in U.S. dollars or euros.

The order also allows the government to set the rates for the export duties on potash fertilizer in 2022-2023.

Belarus usually accounted for about 20% of the world's potash exports, but now the country's potash fertilizer exports have tumbled due to the imposition of U.S. and EU sanctions against potash producer Belaruskali and its trader Belarusian Potash Company (BPC), as well as shipments of product in general.