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Russia: The Ministry of Industry and Trade supports increasing the duty on wine from NATO countries to 200%

Red Wine
Published Apr 18, 2024

Tridge summary

The Russian Ministry of Industry and Trade is considering a proposal from the Association of Winegrowers and Winemakers of Russia to raise import duties on wines from NATO countries to 200%, as part of a broader strategy to protect and promote the domestic wine industry. This move, aimed at encouraging local production, follows previous increases in import duties and precedes a planned rise in excise taxes on alcohol, including wine, in May 2024. Despite potential concerns, the ministry does not expect this to significantly affect Russian wine prices. The proposal is under thorough analysis, reflecting Russia's commitment to strengthening its winemaking sector amid ongoing geopolitical tensions.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Ministry of Industry and Trade supports increasing the import duty on wine from NATO countries to 200%, but the initiative of the Association of Winegrowers and Winemakers of Russia (AVVR) to introduce such a rate needs to be discussed. This was announced by Secretary of State - Deputy Head of the Ministry of Industry and Trade Viktor Evtukhov, writes TASS. According to him, regardless of the specific amount, increasing the duty is necessary and justified. Deputy Prime Minister Victoria Abramchenko previously said that the government would consider the AVVR proposal to introduce an import duty on wines from NATO countries at the level of 200% within the framework of the Ministry of Economic Development subcommittee on customs and tariff regulation. In her Telegram channel, Abramchenko noted that the winemakers’ proposal requires serious analysis and discussion with experts. She noted that domestic wine production is actively developing, and domestic demand can be satisfied by ...
Source: AgroInvestor
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