EU Proposes New Tariffs to Safeguard Food Security

The European Commission has proposed new tariffs on agricultural products and nitrogen-based fertilisers from Russia and Belarus to enhance EU food security. The move aims to reduce dependency and target Russian export revenues. The proposal awaits approval from EU governments and the European Parliament.

The European Commission has put forward a proposal to impose new tariffs on agricultural imports and certain nitrogen-based fertilisers from Russia and Belarus. This move is part of a broader effort to bolster food security within the European Union by limiting dependency on these countries.

The proposal highlights the EU's aim to curb Russian export revenues, which in turn could affect Moscow's capacity to continue its military actions against Ukraine. By increasing tariff measures, the EU also seeks to diversify supply sources for these essential goods.

While the potential tariff hikes would not impact Russian transit of agricultural products to third countries, mitigation measures are expected if substantial price increases affect EU farmers. The proposal is expected to undergo approval processes by EU governments and the European Parliament.

(With inputs from agencies.)