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The EU may approve an increase in duties on grain imports from Russia and Belarus

May, 30 2024
watermark Economic news

The EU Council plans to decide on May 30 to increase customs duties on imports of Russian and Belarusian grain products to the European Union, Belgian Foreign Minister Aja Labib said.


«We will officially approve an increase in customs duties on grain imported from Russia and Belarus,» Labib told reporters in Brussels before a meeting of the EU Council with the participation of the union's trade ministers.


She stressed that these measures are another «way of expressing solidarity with Ukraine.»


After the EU summit on March 21-22, European Commission President Ursula von der Leyen announced a proposal to increase duties on grain imports from Russia and Belarus. According to the head of the EC, this will prevent the destabilization of European markets by Russian grain.


She clarified that we are talking about duties on grain products, oilseeds and derivative products.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.