The European Parliament has voted to impose tariffs on fertiliser and certain farm produce imports from Russia and its ally Belarus, despite European farmers’ fears that the move could lead to higher prices.
The European Parliament on Thursday voted 411 to 100 in support of the bill that will enact duties in July and gradually increase them to a point where they would make imports unviable in 2028.
In 2023, more than 70 percent of EU fertiliser consumption was of nitrogen-based fertiliser, of which Russia accounted for 25 percent of EU imports worth about 1.3bn euros ($1.5bn).
According to the bloc, the tariffs for certain fertilisers will increase over three years from 6.5 percent to an amount equivalent to about 100 percent, effectively halting trade by 2028.
For farm produce, an additional 50 percent duty will apply.
While Russia and Belarus were hit with prohibitive tariffs last year over the war in Ukraine, the new measures will apply to 15 percent of agriculture imports from Russia that were not previously hit, including meat, dairy produce, fruit and vegetables.
EU lawmaker Inese Vaidere, spearheading the push for increased tariffs, said the bloc must stop fuelling “the Russian war machine” and “limit the dependency of Europe’s farmers to Russian fertilisers”.
Member states still must formally give the bill their final approval, having already supported the idea.
Russia said on Thursday that the tariffs would cause fertiliser prices in the EU to rise.
United Arab Emirates Dirham Exchange Rate
