Fertiliser giant Yara is to wind-down its sourcing of key minerals in Belarus due to the sanctions placed on the ruling presient's regime.
The Eastern European country is a potash source for the company, which has its 海角视频 headquarters in Grimsby and main import operations at Immingham. It is a potassium-rich salt that is mined from underground deposits.
August saw the 海角视频 government join the US and Canada in bringing in measures against Alexander Lukashenko following the “continued undermining of democracy and human rights violations”.
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Trade, financial and aviation sanctions were imposed following the detention of journalist Roman Protasevich and Sofia Sapega following the unlawful diversion of a Ryanair flight in May 2021.
Bringing the measures in last August, then Foreign Secretary Dominic Raab said: “The Lukashenko regime continues to crush democracy and violate human rights in Belarus. These sanctions demonstrate that the 海角视频 will not accept Lukashenko’s actions since the fraudulent election. The products of Lukashenko’s state-owned industries will not be sold in the 海角视频, and our aerospace companies will not touch his fleet of luxury aircraft.”
Although Yara’s sourcing is in full compliance with sanctions, other parts of the supply chain are withdrawing essential services required to enable exports. The wind-down is expected to be completed by April1.
In a statement to the City on Monday (January 10), Yara said it has a strong commitment to universal human rights and condemns all forms of repression and human rights violations.
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The Norwegian multi-national said that with the support of human rights organisations and trade unions, it has sought positive change by leveraging its presence in Belarus to promote occupational safety and human rights. However “the effects on the supply chain from the current sanctions on Belarus have forced Yara to initiate a wind-down of its sourcing of Belarusian potash, a key ingredient for the production of mineral fertilisers used in food production”.
“The effects of the current sanctions on Belarus reduce Yara’s ability to positively influence the safety and well-being of Belaruskali workers,” Svein Tore Holsether, president and chief executive of Yara International said. “For Yara, this is a disappointing development. We remain strongly committed to the safety and well-being of Belaruskali’s workers. Despite the wind-down of potash sourcing, Yara aims to continue the industrial safety programme initiated in 2021, in close cooperation with the independent trade union in Belaruskali and in full compliance with applicable sanctions.”
Yara will continue to monitor for any changes in the situation, including sanctions, as part of its ongoing sourcing operations. The City was unmoved by the announcement, with shares up 1.1 per cent in the morning's trade.
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