#Latest news with #EUfoodsecurityReuters22-05-2025BusinessReutersEU lawmakers back huge tariff hike for Russia, Belarus fertiliserBRUSSELS, May 22 (Reuters) - The European Parliament voted on Thursday to impose very high tariffs on fertilisers and certain farm produce from Russia and its ally Belarus to prevent a potential threat to EU food security and limit Russian funds for its war against Ukraine. Tariffs for certain nitrogen-based fertilisers will rise over three years from 6.5% to an amount equivalent to about 100%, a level that would effectively halt trade. For the farm produce, an additional 50% duty will apply. The tariff hikes are expected to take effect on July 1.
Reuters22-05-2025BusinessReutersEU lawmakers back huge tariff hike for Russia, Belarus fertiliserBRUSSELS, May 22 (Reuters) - The European Parliament voted on Thursday to impose very high tariffs on fertilisers and certain farm produce from Russia and its ally Belarus to prevent a potential threat to EU food security and limit Russian funds for its war against Ukraine. Tariffs for certain nitrogen-based fertilisers will rise over three years from 6.5% to an amount equivalent to about 100%, a level that would effectively halt trade. For the farm produce, an additional 50% duty will apply. The tariff hikes are expected to take effect on July 1.
22-05-2025
