European Union imposed high tariffs on Russian imports

Published 2024년 6월 1일

Tridge summary

The European Union (EU) trade ministers have agreed to impose 'prohibitive' tariffs on grain and oilseeds imports from Russia and Belarus, effective July 1. The move is in response to the invasion of Ukraine and aims to prevent Russian grain from destabilizing the EU's agricultural sector and reduce Moscow's income for the war. The tariffs will make these imports impossible, and the products will also be excluded from the Union's tariff quotas. However, tariffs will not cover transit through the EU from these countries to other third parties. The EU Council recalled that imports of cereal products from Russia have increased significantly since the invasion of Ukraine.

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Original content

European Union (EU) trade ministers agreed this Thursday to impose “prohibitive” tariffs on imports of grain and oilseeds from Russia and Belarus in response to their involvement in the invasion of Ukraine. The Council of the EU decided to apply these tariffs as of July 1 to prevent Russian grain from destabilizing the community agricultural sector and restrict Moscow's income to finance its war against Ukraine, as reported through the social network executive vice president of the European Commission and head of Trade, Valdis Dombrovskis. As explained by the European organization, the measure also seeks to end the phenomenon of illegal Russian exports of stolen Ukrainian grain to EU markets. “Basically it is about imposing very high tariffs and limiting the presence of these goods in the EU market,” the Latvian politician had explained when he arrived at the meeting. The regulation increases tariffs on cereals, oilseeds and derived products from Russia and Belarus to a point that ...

Source: Infobae