EU Proposes Tariffs on Russian and Belarusian Grain to Prevent Market Destabilization

The EU plans to impose tariffs on Russian and Belarusian grain imports to prevent them from destabilizing the EU market and to deny Russia revenue.

Imports from Russia/Belarus are small (1%) compared to EU domestic production, but the EU still worries Russia could take advantage.

The tariffs aim to discourage Russian imports by making them 50% more expensive or adding a 95 euro per ton duty.

Russia and Belarus will also lose preferential WTO import quotas for some products.

The EU says the tariffs won't affect global food security and may incentivize Russia to export more to developing countries.