EU targets Russian and Belarusian fertilizers with new tariffs
The ambassadors of the EU member states agreed to impose tariffs on Russian and Belarusian fertilizers, an EU source reported on Friday. Some agricultural products will also be subject to these tariffs. Once imposed, all imports of agricultural products from Russia will face EU tariffs.
The Polish presidency will now be able to enter negotiations with the European Parliament, and a final decision will be made once they conclude. EU diplomats hope that an agreement can be reached before the end of this half-year, during which Poland holds the presidency of the EU Council.
Agreement on imposing tariffs on Russian and Belarusian fertilizers
Despite the imposition of 16 sanctions packages on Russia due to its invasion of Ukraine, the import of fertilizers from this country and allied Belarus not only continued but actually increased—by 52 percent in the first eight months of 2024, bringing in revenue of 1.2 billion euros (1.3 billion dollars).
Unlike sanctions, which are adopted by member states unanimously, the decision regarding tariffs required only a qualified majority—15 countries representing 65 percent of the total EU population. Thus, Hungary alone could not block it.
Poland, along with Lithuania, Latvia, and Estonia, raised in the EU forum that although fertilizers, especially those containing phosphorus, potassium, and hydrogen, are crucial to the European agricultural sector for ensuring high production and crop stability, the EU's dependence on these imports exposes the Community to supply uncertainties, potentially threatening food security in the region.
As a result, at the end of January, the European Commission proposed imposing tariffs on Russian and Belarusian nitrogen fertilizers, as well as a range of agricultural products that had not been subject to higher customs rates. Together, these accounted for 15 percent of the import of Russian agricultural products in 2023.
Sanctions on Russia will be extended
There is an agreement to extend the EU sanctions against Russia by six months. This concerns the blacklist, which includes over 2,000 individuals and entities from Russia. The agreement became possible after Hungary withdrew its veto. However, four individuals were removed from the EU's "blacklist."
The sanctions include a ban on entering the EU, freezing the assets of the individuals and entities targeted, and prohibiting them from accessing financial and other economic resources.
