INSUBCONTINENT EXCLUSIVE:
Russian exports of key commodities collapsed in March as economic sanctions tied to Moscow's war in Ukraine began to take
Fertilizer exports fell to 1.1 million tons in March, compared with 1.7 million tons in February 2022.Iron ore exports also plummeted by 30
percent to 700,000 tons, while shipments of ferrous products fell 27 percent to 1.9 million tons.Grain shipments tumbled to 2.4 million
tons, a 14 percent decrease from February.Analysts linked falling fertilizer and metals exports with EU sanctions imposed on Moscow
24, but said that most long-term export contracts remained stable.The European Union says it is now working to launch new embargoes on
percent of its gas from Russia.For the moment, Russia's energy exports remain steady, with some areas even reporting increases last
natural gas exports also saw a 10 percent increase to 3.4 million tons.And although coal exports dipped 1 percent to 14.4 million tons,
Russia ramped up shipments to China by 27 percent
Year-on-year, Russian coal exports to China surged threefold to 1.4 million tons in March 2022.Alfa Bank chief economist Natalia Orlova has
estimated declining exports and discounted prices in Russia's pivot to non-western markets will cost the Russian economy $15 billion in
monthly revenues.AFP contributed reporting.
