World tradeHigher EU tariffs to weaken the Russian economy
SDA
28.1.2025 - 23:38
The EU Commission wants to ensure a further decline in imports from Russia and Belarus with massive tariff increases. As the Brussels authority announced on Tuesday evening, the duties are to be levied on a range of agricultural products.
Keystone-SDA
28.01.2025, 23:38
SDA
Certain nitrogenous fertilizers are also to be affected by the additional levy. There are also plans to exclude goods from access to EU tariff quotas. Within the framework of these tariff quotas, goods can be imported duty-free or at a reduced rate of duty up to a certain value or quantity limit within a specified period.
According to the EU Commission, the aim of the proposal is to reduce dependence on imports from Russia and Belarus. Imports of fertilizers in particular made the EU vulnerable to pressure from Russia and posed a risk to food security in the EU, it said.
Tariffs should also hinder warfare
The Commission also assumes that the tariffs will have a negative impact on Russian export revenues and thus impair Russia's ability to finance its war of aggression against Ukraine. The authority does not fear supply bottlenecks.
According to the European Commission, the tariffs could also boost domestic production and support the European fertilizer industry. The proposal also provides for support measures if EU farmers are confronted with a significant increase in fertilizer prices. Ideally, however, this would also be prevented by diversifying supplies from third countries.
Qualified majority required
The European Parliament and the Council of Member State Governments must now discuss the Commission's proposal. At national level, the proposal requires the approval of 15 out of 27 EU member states, which together make up at least 65% of the EU's total population.
If the tariff proposal is implemented, all agricultural imports from Russia would be subject to EU tariffs in future, according to the Commission. The agricultural products affected by the new tariffs accounted for 15 percent of agricultural imports from Russia in 2023, which had not previously been affected by higher tariffs.
"We want to further weaken the Russian war economy while reducing the EU's dependencies, supporting our industry and preserving global food security," commented the responsible EU Commissioner Maros Sefcovic. At the same time, all necessary measures will be taken to protect the fertilizer industry and farmers in the EU.