Brussels proposes raising tariffs on imports of Russian wheat to 95 euros per ton

Wheat

Grains, Cereal & Legumes

Regulation & Compliances

Published Mar 22, 2024

Tridge summary

The European Commission (EC) has proposed increasing tariffs on Russian and Belarusian cereal imports, including wheat, corn, barley, and millet, to 95 euros per ton. This move is intended to prevent Moscow from using the sales revenue to fund the war against Ukraine. Additionally, a 50% tariff will be applied to oilseeds and vegetable oils. The EC believes these tariffs will suppress imports from Russia and Belarus to the EU, without affecting their exports to third countries. The tariff measures await adoption by the Council of the EU.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The European Commission (EC) proposed this Friday to raise tariffs on imports of Russian and Belarusian cereals such as wheat, corn, barley and millet to 95 euros per ton, with the aim of preventing Moscow from using the revenues from those sales to finance the war against Ukraine. The Community Executive today presented a proposal that was already advanced by the President of the EC, Ursula von der Leyen, during a press conference on Thursday. In addition to the tariff of 95 euros per ton for cereals, Brussels proposed a second tariff of 50% that will be applied to oilseeds and vegetable oils. Community sources indicated that currently the tariff is zero for Russian imports of corn, oilseeds and high-quality wheat, which is used for human consumption. According to these sources, until now either a zero or a very low tariff was applied to all Russian and Belarusian imports of the products affected by the measure announced today. They added that establishing the tariff of 95 euros ...

Source: PEefeagro