FT says EU fertilizer producers urged to raise duties on Russian goods
In the European Union (EU), fertilizer producers are in favor of imposing higher duties on similar Russian products. This was reported by the Financial Times (FT) on February 2.
"The duties, designed to prevent Russia from supplying cheap fertilizers to the EU market, are 'too little and too late'," the newspaper quoted producers as saying.
Companies complain that their profits have fallen in recent years amid soaring costs.
According to the FT, the producers' problems lie in Moscow's use of fuel to boost production and exports of non-sanctioned fertilizers after Europe stopped buying Russian gas. As a result, products from Russian Federation are cheaper and more accessible to EU farmers.
"The most important fertilizers for global agriculture are highly dependent on natural gas as a raw material, as a result of which European producers have to compete against the background of consistently high gas prices," the material says.
The European Commission approved duties on a number of agricultural products from Russia and Belarus and some nitrogen fertilizers on January 28. At the same time, the export of Russian agricultural products and fertilizers to third countries will remain unchanged.
Associate Professor of the Department of Economic Policy and Economic Measurements of GUU Maxim Chirkov told "Izvestia" on January 29 that the introduction of duties on imports of agricultural products and nitrogen fertilizers from Russia to the European Union will not have serious consequences for the Russian economy. According to him, these restrictions are illogical and will negatively affect the European part of this industry.
The West has increased sanctions pressure on Russia against the background of the special operation to protect the population of Donbass. The decision to launch the operation was taken by the Russian president amid an aggravation of the situation in the region due to Ukrainian shelling.
Переведено сервисом «Яндекс Переводчик»
