Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. curbs Russian access to foreign fertilizers and valves

Published 04/08/2022, 04:59 PM
Updated 04/08/2022, 05:50 PM
© Reuters. FILE PHOTO: A tractor sows sunflower seeds and fertilizes the soil with chemicals at "Leninskoye znamya" (Lenin banner) collective farm, about 40 km (25 miles) southwest of Rostov-on-Don, April 25, 2011.  REUTERS/Vladimir Konstantinov/File Photo

By Alexandra Alper and Karen Freifeld

WASHINGTON (Reuters) -The United States on Friday broadened its export curbs against Russia and Belarus, restricting access to imports of items such as fertilizer and pipe valves as it seeks to ratchet up pressure on Moscow and Minsk following the Russian invasion of Ukraine.

President Joe Biden's administration also restricted flights of American-made aircraft that are owned, controlled or leased by Belarusians from flying into Belarus "as part of the U.S. government's response to Belarus's actions in support of Russia's aggressive conduct in Ukraine."

Washington has sought to deepen sanctions against Russia and ally Belarus after a withdrawal of Russian troops from northern Kiev revealed mass graves in the town of Bucha.

On Wednesday, the United States targeted Russian banks and elites with a new round of sanctions, including banning Americans from investing in Russia, in response to what President Joe Biden condemned as "major war crimes" by Russian forces in Ukraine.

Russian President Vladimir Putin's invasion, which began on Feb. 24, is Europe's bloodiest conflict since World War Two. Russia calls it a "special military operation" aimed at protecting civilians.

The Commerce Department said it will begin requiring Russians and Belarusians to get a special license when seeking to obtain a host of goods from U.S. suppliers and pledged to deny those licenses. The goods include fertilizer, pipe valves, ball bearings and other parts, materials and chemicals.

The administration said items made abroad with U.S. tools would also require a U.S. license, which the administration plans to deny.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"It is evidence they are going to continue tightening export controls and targeting on an economy-wide basis those categories they have not yet done," said Emily Kilcrease, senior fellow at the Center for a New American Security and former deputy assistant U.S. Trade Representative, noting that the Commerce Department now has further restricted Russian access to all items whose export it regulates. "That's significant."

Actions in late February and March placed unprecedented controls on export of U.S. and foreign-made items destined for Russia or Belarus. Those measures, coordinated with over 30 other countries, restrict a broad swath of commodities, software and technology.

Latest comments

Reuters is wrong. belarus + russia are the biggest fertilizer export. Biden may have dementia.
Apparently, there's an Orthodox priest expounding the line that the invasion was to protect conservative Christian values! I'd hardy think that Putin has faith or Christian values. Watch for more Russian propaganda to justify his invasion. Reminds me to Czechoslovakian invasion in the late 1930"s
America is and will remain the primary world superpower.....the USA will and is bringing down the new brutal Russian empire and it's wantabe Tsar Putin ...
multi polar for world peace.
no one will trust the Chinese currency as long as the Chinese government is a totalitarian dictatorship;' only 2%of international currency transactions are done in chinese currency. over 88% in the US dollar.
time to bring down the brutal Chinese totaltarian dictatorship.
david 15 Chinese Propaganda troll
The end of expansion through invasion.
The end of globalization.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.