EU raises tariffs on Russian grains and oilseeds in new policy
The European Union's countries made a final decision on Thursday to impose higher tariffs on grains, oilseeds, and derivative products imported from Russia and Belarus. The higher tariffs aim to halt the import of grains from these countries into the community area.
The European Union will increase import tariffs on grains, including wheat, corn, rye, oilseeds and derivative products, beet pulp, and dried peas from Russia and Belarus. The regulation will be effective from 1 July of the current year.
Poland, the Czech Republic, and the Baltic countries appealed for higher tariffs to be imposed by the Union.
The EU made a decision. A blow to the Kremlin
Russia will be subject to higher tariff rates than other third countries. Grain importers from these countries currently pay no tariffs or shallow ones. The products covered by the regulation approved by EU countries will also lose access to EU tariff quotas.
"Moreover, there is evidence that the Russian Federation is currently illegally appropriating large volumes of such products in territories of Ukraine, which it illegally occupies, and routing them to its export markets as allegedly Russian products," argues the legislator in the regulation.
Russia's plans thwarted. The EU's decision stands
The regulation notes that grain imports have significantly increased since the Russian attack on Ukraine in 2022. As we read, Russia remains a relatively small supplier of grains to the EU market. Still, considering that it is one of the world's largest producers, it could easily and quickly redirect significant grain supplies to the Union, leading to disruptions in the EU market.
The new regulations will not cover grains from Russia and Belarus that transit within the EU. Belarus has been subject to tariffs to prevent the potential redirection of Russian grains through this country.
