EU considers raising duties on food, fertilizers from Russia, Belarus - media

Bloomberg reported the information, citing sources familiar with the matter.

According to the outlet, several member states seeking to limit Moscow's revenues are calling on the bloc to impose massive duties on imports of agricultural and fishery products from Russia and Belarus into the EU, in addition to the higher duties on grain products imposed earlier this year.

Others, according to Bloomberg's sources, are calling for caution and suggesting that the impact of possible measures on European imports and food prices should first be assessed.

The outlet notes that trade measures do not always require the support of all member states, unlike sanctions. The EU is still analyzing which products could be subject to restrictions. Any move on fertilizers is likely to be welcomed by the European industry, which has been advocating for stronger protection.

However, according to one source, the timing of the new duties is unclear, given legal and political obstacles.

The outlet noted that Russia is the world's largest exporter of fertilizers, with a market share of 18%. Although the industry is not under sanctions, it was forced to cut exports in the wake of Russia's invasion of Ukraine in 2022 due to logistical and payment problems. According to the Russian Association of Fertilizer Producers, exports have since recovered and are expected to reach a record level this year, after reaching a record high in 2021.

Agriculture, forestry, hunting, fishing, and mushroom farming accounted for about 2% of Russia's gross domestic product in the first half of this year, Bloomberg added.

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