The EU launches duties on cereals from Russia and Belarus
Published Mar 23, 2024
Tridge summary
The European Commission has proposed a measure to increase tariffs on cereals and oilseeds imported from Russia and Belarus. The move is aimed at preventing potential destabilization of the European market due to increased Russian imports and to stop the sale of Russian wheat from financing Russia's war in Ukraine. The proposed tariffs, which are not strictly sanctions but require approval from the Council, will make these imports commercially unprofitable, with increases up to 95 euros per tonne or an ad valorim duty of 50%, depending on the product.
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
BRUSSELS – The European Commission presented today, Friday 22 March, a measure with which it will increase the duties applied to cereals and oilseeds from Russia and Belarus. The main objective of the measure is to avoid a potential destabilization of the European market in the event of a further increase in Russian imports. For some time, many European agricultural organizations had called for measures to stabilize prices. «Russian and Belarusian cereals and related products have so far been able to enter the European market with low or no customs duties – explained the Vice President of the European Commission Valdis Dombrovskis -. We have seen a sharp increase in these imports in 2023. The tariffs we propose will make imports of these products commercially unprofitable, thus also preventing possible future increases that could destabilize the European market." With this measure, the EU authorities want to stop not only imports of Russian wheat, but also imports of Ukrainian ...
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