- "Transaction costs on insurance premiums, financial payments, shipping costs, and transport, for Russian food and fertilizer exports, are prohibitively high, leading to continued high global food and fertilizer prices," Rebeca Grynspan said
According to TASS, Russia's state-owned news agency article published on November 1, 2022, the regime of sanctions continue influencing exports of Russian fertilizers and foodstuffs and the price of related services is too high, Secretary-General of United Nations Conference on Trade and Development (UNCTAD) Rebeca Grynspan said on Monday.
"We have been focusing these days on getting access to fertilizer from the Russian Federation to key markets. We have dedicated a lot of efforts to find solutions to the constraints we still have," Grynspan said.
"What we have called the "chilling effect" of the sanctions on the private sector, overcompliance, reputational risks, and market avoidance are still a real obstacle. Transaction costs on insurance premiums, financial payments, shipping costs, and transport, for Russian food and fertilizer exports, are prohibitively high, leading to continued high global food and fertilizer prices," she added.
