EU imposes new tariffs on Russian and Belarusian agricultural products and fertilizers

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According to the Brussels statement, the new regulation, which affects all agricultural products – which have not yet been subject to separate tariffs – aims to reduce the EU’s import dependence on the affected products and reduce Russian export revenues. With the measure, the EU wants to limit the possibility of financing the war in Ukraine – they wrote. To this end, the implementation of the tariffs will be closely monitored to protect the EU’s fertilizer industry and farmers – they highlighted. The tariff increase on fertilizers will be gradual, over a three-year transition period – they informed. Once the legislation comes into force, EU tariffs will apply to all agricultural products from Russia, as all other agricultural products are already subject to tariffs.

The new tariffs will affect products that accounted for around 15 percent of all agricultural imports from Russia in 2023

“In addition to weakening the Russian war economy, the new tariffs will contribute to reducing the EU’s dependence on Russia and Belarus, and boost supply diversification and domestic production. It will ensure a stable supply of fertilizers and, crucially, maintain affordability for EU farmers,” they said. The regulation will enter into force on July 1, they said. Imports of the affected fertilizers from Russia accounted for more than 25 percent of the EU’s total imports in 2023, which is around 3.6 million tonnes worth 1.28 billion euros.

MTI