EU Tariffs Shake Up Fertiliser and Farm Produce Trade with Russia and Belarus
The European Parliament voted to impose steep tariffs on Russian and Belarusian fertilisers and some farm produce to safeguard EU food security and limit Russian war funding. Starting July 1, tariffs on nitrogen fertilisers will drastically rise, potentially halting trade and prompting the EU to diversify supply sources.
The European Parliament has moved decisively to secure the continent's food chain by imposing substantial tariffs on fertilisers and certain farm produce from Russia and Belarus.
The decision, which aims to limit Russian financial inflows that could potentially fund the ongoing conflict in Ukraine, reflects a strategic shift to enhance EU food security.
Tariffs on nitrogen fertilisers are set to escalate dramatically, effectively stopping trade and pushing the EU to diversify its supply chain. The move has drawn criticism from the Kremlin, indicating broader geopolitical tensions.
(With inputs from agencies.)
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