EU Imposes New Tariffs on Russian Fertilizers to Disrupt War Finance

The European Union has imposed new tariffs on agricultural products and fertilizers from Russia and its ally Belarus, aiming to restrict Moscow’s access to funds while weakening its war effort in Ukraine. These tariffs target goods not already subject to previous sanctions, contributing to a decrease in EU reliance on Russian imports and potentially impacting Russia’s financial stability. 50% of Russia’s agricultural exports were previously subjected to similar restrictions imposed last month. The new regulations will increase gradually over the next three years, reaching €430 per tonne by 2028, making Russian imports economically challenging.