Source link : https://london-news.net/eu-greenlights-fresh-tariffs-on-russian-fertilizers-to-counteract-war-funding/
On Thursday, European Union nations officially endorsed new tariffs on fertilizer imports from Russia, aiming to cut off funds potentially facilitating Moscow’s military actions in Ukraine, despite apprehensions voiced by farmers within Europe.
During a meeting in Luxembourg, justice ministers from all 27 EU member states approved the initiative. This regulation also targets other agricultural goods and includes Belarus, a close ally of Russia, and is set to be implemented next month.
“These actions bolster our economic security by diminishing our reliance on Russia,” stated Michal Baranowski, Poland’s undersecretary of state for trade. “We are further decreasing Russia’s export earnings, thus limiting its capacity to sustain its aggressive warfare. This represents a united Europe at its finest.”
The tariffs will be applicable to nitrogen-based fertilizers and additional agricultural products that were not subject to previous sanctions implemented last year. These levies will gradually increase until 2028, at which point they are anticipated to render Russian imports economically impractical.
European agricultural organizations had expressed opposition to this decision, cautioning that it might lead to higher fertilizer prices amid ongoing dependence on Russian supplies.
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Publish date : 2025-06-12 13:47:00
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