Sowing seeds. File photoBOGOTA, Apr 15Colombia, the closest partner of the North Atlantic Treaty Organization (NATO) in the Latin American region, is suffering losses from sanctions against Russia — agricultural exports worth $ 139 million and a third of fertilizer imports are under attack, a professor at the Graduate School of Public Administration and a researcher at the Center told RIA Novosti analysis of the fiscal policy of the National University of Colombia Diego Carrero Baron. «Colombia exports (to Russia — ed.) cattle meat, flowers, coffee, bananas, butter, dairy products for $ 139 million a year. Thus, the livestock and agriculture sector will suffer the most,» the economist said. In addition to the export of products, which may be prevented by restrictions on the Russian financial sector, the agriculture of the Latin American country is now facing the issue of providing fertilizers. Russia and Belarus previously accounted for up to a third of imports of fertilizers, urea and manure, the volume of imports from Russia in 2021 amounted to $477 million. inflation, has an impact on the economy of Colombia. The trade deficit is pushing up prices for Colombian agricultural products, and the expectation of a key rate hike in the US is putting pressure on the Colombian peso.»Will come back to the West»: the US assessed the consequences of strengthening sanctions against Russia more expensive, creating inflationary pressure, but also makes foreign debt more expensive, increases interest rates, which can slow down the economy. So this stagflation puts pressure on monetary and foreign exchange policy, devaluing the currency in Colombia,» the source added. countries began to introduce new anti-Russian sanctions in response to the special operation of the Russian Federation to demilitarize Ukraine. As the press secretary of the President of the Russian Federation Dmitry Peskov said, the Western sanctions are very serious, but Russia was preparing for them in advance. Russian Foreign Minister Sergey Lavrov noted that Moscow will solve all the problems created for it by the West with the economy. USA
