Experts told why the EU chose to increase tariffs on Russian grain, rather than ban it

Published Jun 16, 2024

Tridge summary

The European Union has increased customs duties on Russian agricultural products, rather than banning them outright. This move is seen as a way to correct the imbalance of grain restrictions against Ukraine but not against Russia and Belarus. The tariff increase is viewed as a form of hidden sanctions and a political decision to show partnership with Ukraine. The EU is providing a market for Ukrainian products, which can partially replace Russian products. However, Russia's strategy is to use its agricultural exports to expand its influence in the EU market, manipulating during upcoming European elections.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The experts explained why the European Union did not ban the import of Russian agricultural products, but increased customs duties, which are not formally sanctions. This is reported by UNIAN. According to analysts, the tariff increase was chosen instead of sanctions to speed up the process. This is a response to those countries that are not too concerned about the injustice of the fact that there are grain restrictions against Ukraine, but there are none against the Russian Federation and Belarus. This is an attempt to politically correct the situation. Most experts agree that the decision on tariffs is political and logical, because it is strange to observe how, on the one hand, sanctions are adopted on other goods from the Russian Federation, but the European Union continues to trade in Russian food products. As 2023 and the beginning of 2024 showed, the volume of this trade increased significantly compared to 2021. Market participants believe that the tariff increase is one of ...
Source: Agropolit
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