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European Parliament Approves Major Tariffs to Cut Russian Support

5/22/2025

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Summary

European Parliament Sanctions

On May 22, the European Parliament took a bold step to reduce reliance on Russia and Belarus by approving steep tariffs on fertilizers and agricultural goods. Nitrogen fertilizer tariffs will soar from 6.5% to nearly 100% over three years, while a 50% duty will hit select agricultural products, all aimed at cutting off financial support for Russia's ongoing war in Ukraine.

Summary

EU Halts Imports

On June 6, the EU will halt tariff-free imports from Ukraine, a move that threatens the country's vital agricultural exports, including wheat and corn. This decision comes after negotiations on a crucial trade agreement stalled, casting a shadow over Ukraine's aspirations for EU membership and jeopardizing its agricultural stability amid rising geopolitical tensions.

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European Parliament Sanctions

On May 22, the European Parliament took a bold step to reduce reliance on Russia and Belarus by approving steep tariffs on fertilizers and agricultural goods. Nitrogen fertilizer tariffs will soar from 6.5% to nearly 100% over three years, while a 50% duty will hit select agricultural products, all aimed at cutting off financial support for Russia's ongoing war in Ukraine.

1 / 2