The Council of the European Union has adopted a resolution to impose prohibitive duties on grain products imported from Russia and Belarus.
This decree increases the duties on cereals, oilseeds, and their processed products from Russia and Belarus, to such an extent that, in practice, the importation of these products is stopped.
“These measures will therefore prevent the destabilisation of the EU’s grain market, halt Russian exports of illegally appropriated grain produced in the territories of Ukraine and prevent Russia from using revenues from exports to the EU to fund its war of aggression against Ukraine,” said Vincent Van Peteghem, Belgian minister for finance.
The resolution will be published in the official journal of the EU, and the measures will take effect on July 1st, 2024.
According to the Russian customs service, exports of food and agricultural raw materials increased by 4.3% in 2023 compared to the previous year to $43.1 billion, while imports decreased by 1.7% to $35.1 billion.
