EU to impose killer duties on grain from Russia and Belarus
The EU is preparing to impose duties on grain imports from Russia and Belarus, which will be the first restriction on food products after Russia's full-scale invasion of Ukraine, Financial Times reported citing its own sources on March 19.
In the coming days, the European Commission will impose a duty of 95 euros per ton on grain from Russia and Belarus.According to the newspaper, this will lead to an increase in prices by at least 50%, which will destroy consumer demand.
Read also: 17-kilometer-long queue at Ukrainian border — Polish police
Duties of 50% will also be imposed on oilseeds and their processed products. EU imports from Russia of these products - grains, oilseeds and their derivatives - reached a record 4 million tons in 2023, which is 1% of total EU consumption.
"Brussels has long resisted pressure from Poland and the Baltic states to limit Russian and Belarusian imports, arguing that such a move could undermine global food markets and harm developing countries," the newspaper writes.
Read also: India plans to purchase discounted Russian grain — report
The United States produces more than 300 million tons of grains and oilseeds annually and is a net exporter, so it has no need for Russian and Belarusian imports, the FT added.
According to the newspaper's sources, the duty will be set at the maximum level allowed by WTO rules. Russia could retaliate, but it has already banned most of its food imports to the EU, and many European companies in the sector have left the country in recent years.
Read also: Blinken called "laughable" Russia's promises to supply grain free to African countries
The European Commission itself declined to comment on this decision. Earlier it was reported that the Czech Republic proposed to ban imports of Russian and Belarusian grain to the EU.
On Feb. 22, the Latvian Saeima adopted in two readings a resolution banning imports of Russian and Belarusian products until at least July 2025.
Read also: Russia would revive the grain deal if most sanctions are lifted – Putin
On March 13, Valdis Dombrovskis, Executive Vice President of the European Commission and European Commissioner for Trade, told NV that the European Union is discussing the idea of stopping the import of Russian and Belarusian agricultural products into the EU.
Read also: Russia faces wheat exports shipping challenges after attacking Ukraine – Reuters
We’re bringing the voice of Ukraine to the world. Support us with a one-time donation, or become a Patron!
Read the original article on The New Voice of Ukraine
