This is an important comment. Putin hasn't taken this off the table but the nightmare short-term scenario would be that if they cut off gas to Europe.
- Sanctions on Russia are not legitimate
- The west is trying to blame Russia for its own mistakes (on the US banning Russian oil)
- Notes that US inflation is rising
- We don't intend to break off any relations ourselves
These are important comments. There was a tail risk that Russia would halt oil and gas exports to 'unfriendly' nations but Putin appears to be reluctant to do that (though he's left himself some wiggle room).
- We have agreements with friendly countries on fertilizers
- On fertilizer markets: If the west creates problems for Russia, then there will be inevitable negative consequences for world markets
- We don't want to see price rises on Russian food
- Fertilizer prices could rise further
- Russia decided to temporarily suspend fertilizer exports
