The European Parliament approved tariff hikes on certain imports from Russia and Belarus. The vote, held recently, passed with 411 votes in favor, 100 against, and 78 abstentions.
The tariffs, set to take effect on July 1, will significantly impact nitrogen-based fertilizers. These tariffs will rise over three years from 6.5% to approximately 100%, effectively halting trade. An additional 50% duty will apply to farm produce.
The new tariffs also target the 15% of agriculture imports from Russia not previously subject to duties, worth 380 million euros. This includes meat, dairy produce, fruit, and vegetables. The European Commission stated the tariffs aim to reduce vulnerability to coercive actions by Russia and support domestic production.