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EU Raises Tariffs on Russian Agricultural Goods and Fertilizers to 15% Amid Security Concerns

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EU Raises Tariffs on Russian Agricultural Goods and Fertilizers to 15% Amid Security Concerns
Phosphate fertilizer at the PhosAgro-Cherepovets fertilizer plant, operated by PhosAgro PJSC, in Cherepovets, Russia, on Thursday, Dec. 2, 2021. (Source: Getty Images)

The European Commission has approved the introduction of higher duties on agricultural products and certain nitrogen fertilizers from Russia and Belarus. The new tariffs will be set at 15%, up from the current 6.5%.

According to the European Commission, the measure aims to reduce the EU’s reliance on imports from Russia and Belarus. "Such imports, particularly of fertilisers, make the EU vulnerable to potential coercive actions by Russia and thus present a risk to EU food security," the Commission said. 

The proposal must now be approved by the EU Council. European chemical companies had advocated for increased duties on Russian fertilizers, arguing that Russia’s pricing strategy had undercut local producers. Some EU member states also supported the move as part of broader efforts to limit Russian budget revenues amid the war against Ukraine.

While the EU has imposed sanctions on various Russian goods, fertilizers had not previously been targeted.

Previously, it was reported that the European Union is preparing to cut around 15 additional Russian banks from the SWIFT international payment system as part of its 16th sanctions package.

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