• 16/07/2024 06:28

The EU plans to introduce 50% duties on grains from Russia and Belarus

The European Commission has prepared a decision on the introduction of 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%. President of the European Commission Ursula von der Leyen presented a corresponding proposal to EU leaders at the summit in Brussels on March 21-22, Radio Liberty reports.

The EU plans to introduce 50% duties on grains from Russia and Belarus

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In addition, Russia and Belarus no longer have access to any of EU grain quotas, which offer more favorable tariff regimes for some products.

Increased duties will apply to imports of grains, oilseeds and processed products from Russia and Belarus, which until now have been imported into EU countries mainly without duties . We will talk about wheat, corn, and sunflower fractions.

It was decided to introduce duties in the EU, taking into account the fall in prices on the EU grain market after Russia’s full-scale invasion of Ukraine due to market glut.

In 2023, Russia exported 4.2 million tons of grains, oilseeds and processed products worth 1.3 billion euros to the EU. The volume of products from Belarus to the EU in the same period amounted to 610 thousand tons worth 246 million euros, the European Commission reported.

The share of Russian grains in the EU market is insignificant, the European Commission noted, and is about 1% in overall and about 5% of imports. Customs duties will make Russian products less attractive on the European market.

This proposal from the European Commission must be approved by the Council of the European Union. Tariffs will begin to apply immediately after approval by the Council of the European Union.

minfin.com.ua

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