Norway's Yara to stop buying potash from Belarus due to sanctions

The company said its purchase of potash from Belarus had been in full compliance with the sanctions but would still have to come to a halt. "Other parts of the supply chain are withdrawing essential services required to enable potash exports from Belarus, as a result of which Yara has initiated a wind-down in sourcing activities," the company said in a statement.

Norwegian fertiliser maker Yara said on Monday it will wind down its purchase of potash from Belarus by April 1 as international sanctions made it impossible to continue the trade.

Yara is a key customer of state-owned Belaruskali, one of the world's largest producers of potassium salt, or potash, the crop nutrient that is a major foreign currency earner for Belarus. The company said its purchase of potash from Belarus had been in full compliance with the sanctions but would still have to come to a halt.

"Other parts of the supply chain are withdrawing essential services required to enable potash exports from Belarus, as a result of which Yara has initiated a wind-down in sourcing activities," the company said in a statement. Western powers accuse Belarus' President Alexander Lukashenko of rigging a 2020 presidential election and have piled sanctions on his regime, including restrictions on some potash exports.

Yara sources potash from nine suppliers globally, according to a company sustainability report filed last year.

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