MOSCOW, (Reuters) – Shares in global potash producers rose Thursday following the imposition of sanctions by the United States on Belarus’ exporter. This country accounts for 16% worldwide production. The sanctions also included broad sanctions against officials and other businesses from the nation.

Belarus Potash Company (BPC), the main exporting arm, is a subsidiary of Belarusian State Potash Producer Belaruskali. BPC ships potash mostly to Brazil, India, and China.

On Thursday, the U.S. Treasury announced that it had issued a general licence authorizing winding down transactions involving BPC up to April 1.

Analysts at VTB Capital stated that some customers of BPC would try to stay away from new business after sanctions were imposed by the United States against them.

BPC’s supplies are handled currently by Klaipeda, a port located in Lithuania. Reuters did not respond immediately to a request for comment. Belaruskali was approved in August. However, Dec. 8 is the last day for it to close its operations.

Belaruskali will be the world’s second-largest producer of potash, with 12.5 Million Tons expected to be produced by 2021. Nutrien VTB Capital, Ltd.

Although the U.S. increased sanctions have not affected global supply and demand they could increase Belarusian shipping to China and India. Scotiabank Analyst Ben Isaacson noted in a note that more Belarusian Potash will be shipped to China and India. Also, North American potash producers Nutrien and Mosaic Co. (NYSE:) would benefit.

Nutrien shares rose up to 3.4% in Toronto and Mosaic stock climbed as high as 3.9% New York.