EU adopts new tariffs on Russian and Belarusian agricultural goods and fertilisers.

EU adopts new tariffs on Russian and Belarusian agricultural goods and fertilisers.

International news Desk

According to global Times news agency Europe,The European Council has adopted a regulation that imposes new tariffs on the remaining agricultural products and certain fertilisers from Russia and Belarus that were not yet subject to extra customs duties, according to a statement, The global Times Europe media.The aim is to reduce EU dependence on those imports as well as to reduce Russian export revenues, thereby limiting its ability to finance its war of aggression against Ukraine. The implementation of these tariffs will be closely monitored to ensure that the EU fertiliser industry and farmers are protected. The tariff increases on fertilisers will take place gradually, over a transition period of three years,” the EC said.Once the legislation enters into force, EU tariffs will apply to all agricultural products from Russia, as other agricultural goods are already subject to customs duties, according to the statement. "The new tariffs will apply to goods that made up around 15% of all agricultural imports from Russia in 2023. In the case of fertilisers, the new tariffs will apply to certain nitrogen-based products.The regulation will enter into force by 1 July 2025.