EU will impose duties on grain from Russia and Belarus in the amount of €95 per 1 ton

The European Union is preparing to impose tariffs on grain imports from Russia and Belarus to appease farmers and some member states – the first restriction on Russian food products since the full-scale invasion of Ukraine.

According to the Financial Times, according to people familiar with the plans, the European Commission will announce a 95 euro per ton duty on grain from Russia and Belarus in the coming days.

According to the sources, this will lead to a price increase of at least 50%, which will destroy demand.

Tariffs of 50% will also be imposed on oilseeds and their processed products.

In 2023, imports from Russia of grains, oilseeds and their derivatives reached a record 4 million tons, which is 1% of total EU consumption.

The European Union produces more than 300 million tons of grains and oilseeds per year and is a net exporter of the former, so it has no need for Russian and Belarusian imports.

The EU representative noted that grain prices are at a four-year low, while Russia is “very competitive in the grain markets and exerts significant pressure.”

The duty will be set at the maximum level allowed by WTO rules. Russia may retaliate, but it has already banned most food imports from the EU, and many European companies in the sector have left the country in recent years.

Earlier it was reported that Latvia has finally banned the import of grain and vegetables from Russia.

Tags: Russia, grain, EU, wheat, Belarus