On Thursday, MEPs approved measures to reduce the EU's dependence on fertilizers and agricultural products from Russia and Belarus. As of July 1, new tariffs will be applied to these products, significantly increasing the price of certain nitrogen fertilizers. This will effectively suspend most imports. Russia supplies 25% of these fertilizers to the EU, valued at about 1,300 million euros annually. The EU will also impose taxes on agri-food products such as meat, dairy, fruits, and vegetables from Russia and Belarus.
The decision seeks to strengthen the EU's strategic independence and reduce the money Russia gets from these exports, which finance military activities in Ukraine. The European fertilizer industry supports this measure, which is key to the continent's economic and food security. However, farmers are concerned about rising costs, as fertilizer prices have risen sharply in recent years, which could affect their competitiveness and food security. In addition, uncertainty over the entry into force of the tariffs is causing producers to hold back supplies, further driving up prices.
Source: euronews.com
