The European Union has decided to impose higher import duties on grains, oilseeds, and derivative products from Russia and Belarus.
Currently, importers of grains from Russia and Belarus either pay no tariffs, or pay the very low ones. The new regulations will strip these products of their access to EU tariff quotas. Poland, the Czech Republic and the Baltic states advocated for these higher tariffs.
“The new tariffs set today aim to stop the imports of grain from Russia and Belarus into the EU,” Vincent Van Peteghem, Belgian minister for finance said.
“This is yet another way in which the EU is showing steady support to Ukraine,” he added.
The import of grains has significantly increased since Russia’s 2022 attack on Ukraine. Although Russia is a relatively small supplier to the EU market, its status as one of the world’s largest producers means it could easily redirect substantial supplies to the EU, disrupting the market.
Furthermore, the EU Council’s press release announcing the new tariffs notes: “There is evidence that the Russian Federation is currently illegally appropriating large volumes of such products in territories of Ukraine, which it illegally occupies, and routing them to its export markets as allegedly Russian products.”
In conclusion, these measures will help prevent the destabilization of the EU market, stop Russian exports of stolen Ukrainian grain, and prevent Russia from funding its war against Ukraine with EU export revenues.
However, the new rules will not affect the transit of Russian and Belarusian grains through the EU.
The regulation will be published in the EU’s Official Journal and will take effect on July 1, 2024.
“The new tariffs set today aim to stop the imports of grain from Russia and Belarus into the EU,” Vincent Van Peteghem, Belgian minister for finance said.
“This is yet another way in which the EU is showing steady support to Ukraine,” he added.
The import of grains has significantly increased since Russia’s 2022 attack on Ukraine. Although Russia is a relatively small supplier to the EU market, its status as one of the world’s largest producers means it could easily redirect substantial supplies to the EU, disrupting the market.
Furthermore, the EU Council’s press release announcing the new tariffs notes: “There is evidence that the Russian Federation is currently illegally appropriating large volumes of such products in territories of Ukraine, which it illegally occupies, and routing them to its export markets as allegedly Russian products.”
In conclusion, these measures will help prevent the destabilization of the EU market, stop Russian exports of stolen Ukrainian grain, and prevent Russia from funding its war against Ukraine with EU export revenues.
Belarus is also included in the tariffs to prevent the potential rerouting of Russian grains through its territory.The EU is increasing tariffs on grain products from Russia and Belarus.
— EU Council (@EUCouncil) May 30, 2024
The new rules:
📌 protect the EU market from being disrupted
📌 halt Russian exports of illegally obtained Ukrainian grain
📌 prevent Russia from using revenues to fund its full-scale invasion of Ukraine
👇
However, the new rules will not affect the transit of Russian and Belarusian grains through the EU.
The regulation will be published in the EU’s Official Journal and will take effect on July 1, 2024.
Source: PAP, consilium.europa.eu
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