The Council of the European Union has decided to suspend customs tariffs on key nitrogen fertilizers widely used in agriculture for one year. In particular, this includes fertilizers such as urea and ammonia. However, this relief does not apply to products imported from Russia and Belarus.
This is reported by Finway
Details of the Decision and Its Limitations
According to the adopted decision, the suspension of customs tariffs applies exclusively to goods that have not previously been imported into the EU without paying duties from countries benefiting from the Most Favored Nation (MFN) status. At the same time, to maintain a balance between the interests of European producers and consumers, certain quotas have been introduced. Their volume corresponds to the import of fertilizers from MFN countries in 2024, plus an additional 20% of the import volume from Russia and Belarus during the same period.
“Today’s decision provides European farmers with better access to reliable fertilizer supplies – good news for both the agricultural sector and EU consumers. At the same time, we are accelerating the phase-out of Russian and Belarusian products and building more resilient supply chains and partnerships worldwide,” said the Minister of Finance of the Republic of Cyprus, Makis Keravnos.
Objectives of the Measures and Economic Impact
The European Union specifically excluded from the decision goods imported from Russia due to its military aggression against Ukraine. A similar restriction applies to Belarus, considering its support for Russia’s actions, violations of international law, and fundamental human rights.
The decision will take effect the day after its official publication in the EU Journal and will remain in force for one year. According to estimates by the European Commission, this step will allow farmers and industry businesses to save about 60 million euros on import duties.
Furthermore, the implemented changes will help reduce the EU’s dependence on Russian and Belarusian fertilizers, as well as strengthen the stability of supplies and the development of new partnerships in the agro-industrial complex.