News

The EU plans to introduce 50% duties on Russian and Belarusian grains

Published Mar 23, 2024

Tridge summary

The European Commission plans to impose duties on grain imports from Russia and Belarus at a rate of 95 euros per ton, effectively a 50% duty. This proposal, put forth by Commission President Ursula von der Leyen, also includes revoking Russia and Belarus' access to EU grain quotas. The duties will be applicable to grains, oilseeds, and processed products like wheat, corn, and sunflower meal. The aim is to protect EU markets and farmers, and to restrict Russia's ability to finance its war efforts through the EU. The proposal awaits approval from the Council of the European Union.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Commission has prepared a decision to introduce duties on the import of grain from Russia and Belarus to the EU at the level of 95 euros per ton, which will be equal to a duty of 50%. In addition, Russia and Belarus no longer have access to any of the EU grain quotas, which offer more favorable tariff regimes for some products. President of the European Commission Ursula von der Leyen presented a corresponding proposal to the leaders of the European Union at the summit in Brussels on March 21-22, reports a Radio Liberty correspondent in Brussels. Increased duties will apply to the import of grains, oilseeds and processed products from Russia and Belarus, which until now have been imported into the EU countries mainly without duties. We will also talk about wheat, corn, and sunflower meal. “We are proposing to impose tariffs on these Russian imports to reduce the growing risk to our markets and our farmers. They will reduce Russia's ability to use the EU to benefit its ...
Source: Krymr
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