The EU Council on Thursday adopted a regulation aimed at introducing excessively high tariffs that would effectively halt the import of grains, oilseeds, and products derived from them from Russia and Belarus into the EU.
– The new tariffs aim to effectively stop the import of grains from Russia and Belarus into the EU. These measures will prevent the destabilization of the grain market in the EU, stop the Russian export of illegally appropriated grain produced on Ukrainian territory, and prevent Russia from using export revenues in the EU to finance its aggressive war against Ukraine – stated Belgian Finance Minister Vincent Van Peteghem. He added that this is yet another way the EU shows its support for Ukraine.
The regulation will come into effect on July 1 of this year.
The European Union has so far introduced a series of sanction packages against Russia due to its aggression against Ukraine, which have targeted the energy sector and banks, but has avoided targeting agricultural products or fertilizers due to fears of destabilizing trade and jeopardizing food security for Asian and African countries that import Russian grain.
Therefore, the EU has now opted for excessively high tariffs, between 93 and 95 euros per ton of wheat, which will prevent imports into the EU but allow for unhindered transit across its territory to third countries, storage in customs warehouses in the EU, or transport by European ships.
