Source: Ukragroconsult (Ukraine)
The European Union is discussing the extension of tariffs on agricultural and food products as well as fertilizers from Russia and Belarus. Bloomberg writes this, citing sources.
Several member states that want to curb the Kremlin’s influence are urging the EU to impose comprehensive tariffs on imports of agricultural and fishery products from Russia and Belarus into the EU, in addition to the higher tariffs on grain products already agreed this year.
Others urge caution and call for the impact of any measures on European imports and food prices to be assessed first, according to the agency’s sources.
Unlike sanctions, trade restrictions do not always have to be supported by all member states.
The EU is still assessing which products it can target. Any move on fertilizers would likely be welcomed by the European industry, the agency said.
Russia is the world’s largest exporter of fertilizers, with an 18% market share. Although the industry is not subject to sanctions, it was forced to cut exports after Russia’s invasion of Ukraine in 2022 due to logistics and payment problems.
Since then, exports have resumed and are expected to reach record levels in 2021.
However, a source said the timing of the new tariffs is not yet clear given the legal and political hurdles.