financetom
Business
financetom
/
Business
/
US fertilizer imports helping fund Russian war effort, CF Industries says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US fertilizer imports helping fund Russian war effort, CF Industries says
May 3, 2024 9:11 AM

May 2 (Reuters) - U.S. agriculture companies have been

brisk importers of Russian fertilizer since the 2022 Ukraine

invasion, a practice that is unwittingly helping fund Russia's

war against Ukraine, U.S. producer CF Industries ( CF ) said on

Thursday.

The U.S. does not impose sanctions directly on Russian

fertilizer, which is important to global food supplies and

prices. On Wednesday, the U.S. Treasury Department issued

hundreds of fresh sanctions on other Russian targets over the

war.

"What's kind of shocking is there's been all of this focus

on not funding the Russian war machine and not buying Russian

gas," CF's CEO Tony Will said on a quarterly earnings call. "And

yet, the U.S. is arms wide open to take urea and UAN (urea

ammonium nitrate) coming out of Russia, which is effectively

just natural gas that's been converted (into fertilizer).

"So the U.S. is funding the very war effort over there that

on the one hand it's condemning."

A White House spokesperson did not respond to a request for

comment.

The biggest U.S. urea importers from Russia since its

invasion of Ukraine in February 2022 to March 2024 are ECO

Fertilizers, Swiss-based EuroChem and U.S. grain-handling giant

Archer-Daniels-Midland ( ADM ), according to U.S. import data

provided to Reuters by ImportYeti, a company that provides

information about suppliers by tracking bills of lading.

ECO Fertilizers, the company Russian fertilizer producer

Acron Group uses to import into the U.S., according to CF,

imported about 575 million metric tons during the period.

The company's address is listed online as Hollywood,

Florida, but it could not be immediately reached at its email

address.

EuroChem, founded by Russian businessman Andrey Melnichenko,

imported at least 81 million tons of urea from Russia via its

U.S. subsidiaries.

ADM imported at least about 16.8 million tons of urea from

Russia between February 2022 and March 2024 via five

subsidiaries. Some grain handlers, which buy crops from farmers,

use those relationships to sell growers inputs such as

fertilizer as well.

EuroChem and ADM did not immediately respond to requests for

comment.

CF, based in Illinois, is one of the world's biggest

nitrogen fertilizer producers and competes against Russian

imports. Nitrogen fertilizer is made from natural gas and the

U.S. has imposed sanctions on a project owned by Russia's

largest producer of liquefied natural gas.

CF does not import Russian fertilizer, company spokesperson

Chris Close said.

Will did not say whether CF is calling on the U.S. to

sanction Russian fertilizer.

Wholesale producers typically sell fertilizer to separate

retail companies that sell it directly to farmers, or through

their own retail stores.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
BRIEF-Veolia Environnement Announces Five Tuck-In Acquisitions In Hazardous Waste Treatment
BRIEF-Veolia Environnement Announces Five Tuck-In Acquisitions In Hazardous Waste Treatment
Jun 25, 2025
June 25 (Reuters) - Veolia Environnement SA: * INCREASES LEADERSHIP IN HAZARDOUS WASTE TREATMENT * BUYS ZEEKLITE CO. LTD IN JAPAN * BUYS ALAGOAS AMBIENTAL IN BRAZIL * EXPANDS IN U.S. WITH THREE ACQUISITIONS * FIVE TUCK-IN ACQUISITIONS SIGNED FOR €300 MILLION Source text: Further company coverage: (Gdansk Newsroom) ...
Devil's in the details: Why BP's debt may deter a buyer
Devil's in the details: Why BP's debt may deter a buyer
Jun 25, 2025
* BP shares have underperformed peers for years * Shell CEO has dismissed rumours of possible bid for BP * BP's debt structure complicates picture * Still paying out on 2010 Macondo oil spill By Shadia Nasralla LONDON, June 25 (Reuters) - BP has been the subject of takeover talks for several years due to its shares' relative underperformance, but...
Market Chatter: GM's Mexico Plant to Vote on Joining Independent Union
Market Chatter: GM's Mexico Plant to Vote on Joining Independent Union
Jun 25, 2025
06:50 AM EDT, 06/25/2025 (MT Newswires) -- General Motors' ( GM ) 6,500 employees at the San Luis Potos plant in central Mexico will vote this week on whether to join SINTTIA, an independent union, Bloomberg reported Wednesday. According to Bloomberg, the plant has been without a union since 2023 after its previous union lost certification under the United States-Mexico-Canada...
Copyright 2023-2026 - www.financetom.com All Rights Reserved