EU plans to impose tariffs on agricultural products from Russia and Belarus, Bloomberg reports
Pravda Ukraine
The European Union has proposed imposing tariffs on the remaining agricultural products arriving from Russia and Belarus that are currently not subject to customs duties, as well as on certain nitrogen-based fertilisers.
Source: Bloomberg
Details: Several EU member states are pushing for additional measures to reduce Russia’s revenues and decrease the EU’s dependence on Moscow. However, there have been concerns in the past about the impact of such measures on food prices in Europe.
Quote: “We aim to weaken further Russia’s war economy, while reducing EU dependencies, supporting our industry, and preserving global food security. We will take every step necessary to protect our fertilisers industry and farmers,” said EU trade commissioner Maroš Šefčovič.
Details: Unlike sanctions, which require unanimous support from all 27 member states, these tariffs need only a qualified majority – 15 states representing 65% of the bloc’s population.
Any action concerning fertilisers is likely to be welcomed by the European fertiliser industry, which has long advocated for additional protective measures.
Under the EU proposal, exports to non-EU countries or the transit of agricultural products to those nations will not be subject to the tariffs.
This week, the EU extended its sanctions against Russia for another six months after overcoming a block by Hungary. Member states are currently discussing the 16th package of sanctions targeting Moscow over its war against Ukraine.
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