-
WeGolden Receives Best Gold Trading Platform Asia 2026 Recognition from TrustFinance Awards
-
WeMasterTrade Receives Best Instant Prop APAC 2026 Recognition from TrustFinance Awards
-
BtcDana Wins “Best Customer Support Experience – CFD Broker 2026” at the TrustFinance Performance Awards
-
MH Markets Recognized as Most Transparent Broker at the TrustFinance Awards 2026
-
Belgian pie-thrower, scourge of celebrities, dies at 80
-
Stocks, oil slip ahead of US threat of economic war against Iran
-
Eto'o urges support for embattled FIFA president Infantino
-
Trump claims Iran 'collapsing' as US threatens 'economic D-Day'
-
India in driver's seat in second Sri Lanka Test
-
Noosha Aubel: How much more administrative failure can Potsdam tolerate?
-
Despair and anger in Conakry after deadly landfill collapse
-
Liverpool must improve on 'unacceptable' season, says Van Dijk
-
OSCE says Kazakh elections lacked choice after ruling party wins landslide
-
UK PM dismisses Russian threats as Ukraine allies gather in Kyiv
-
India declare on 503-9 after Jurel hundred
-
Attacks on Red Cross in DR Congo making Ebola fight 'harder'
-
Kremlin says UK preventing peace by giving missile info to Ukraine
-
Oil falls ahead of US plan for economic war on Iran
-
Springboks change half-backs for second All Blacks Test
-
Millions of Teslas recalled in China over door handle safety
-
Jurel hits 95 not out as India reach 475-8 at tea in Sri Lanka Test
-
IUX Launches New Education Webinar Series to Support Traders’ Financial Literacy
-
Ingebrigtsen buoyed by fourth in Diamond League comeback
-
Dutch say won't participate in 'no longer' neutral Eurovision
-
Kenyans get creative to join manga cosplay craze
-
Kenyan farmers turn to bugs as organic demand grows
-
Pant, Jurel half-centuries take India past 400 in Sri Lanka Test
-
'His feet are his pillars': Nepal para swimmer gives all for Asian glory
-
Migrants, rescue ships face threats, harassment at sea: aid group
-
New Zealand moves to ban social media for under-16s
-
UEFA's Ceferin tells Infantino to go, but 'not interested' in replacing him
-
Hyundai union back in wage talks after rare full-day strike
-
Oil falls as Trump pledges economic war on Iran
-
Shein grapples with EU backlash, but clients keep coming
-
Yamashita marches to nine-shot win in LPGA Canadian Women's Open
-
Key facts about Chinese-founded fast-fashion giant Shein
-
Gauff powers past Pegula to win US Open warm-up in Cincinnati
-
Shein to make market debut in Hong Kong in September
-
Japan's Olympic figure skating heroes to wed
-
Fils tops Tiafoe to claim first ATP Masters title in Cincinnati
-
Cummins eyes ODI return ahead of 'big' South Africa Test series
-
Gauff powers past Pegula to win Cincinnati WTA 1000 crown
-
India police used excessive force during protests: Amnesty
-
Ukraine backers gather as war escalates, air defence runs low
-
Rookie La Sasso wins LIV season-ender as tour's future in doubt
-
Syria says Israel talks addressed de-escalation, staying out of Israel-Turkey tensions
-
Fils tops Tiafoe to claim first ATP Masters title in Cincinnati bb/amz
-
Tourism boom pushes limits of Athens air traffic control
-
Clark fends off McIlroy to win BMW Championship
-
Liga holders Barcelona crush Elche, Atletico salvage Villarreal draw
EU eyes tariffs to 'choke off' Russian grain sales
The EU is looking to "choke off" revenue Russia uses for its war on Ukraine by slapping "prohibitive tariffs" on grain and related imports into the bloc, under a plan being put to a leaders summit on Friday.
Moscow responded immediately by saying Europeans would "suffer" from the move.
The added sanctions, welcomed by Kyiv, will not apply to Russian grain transiting through the European Union to other markets, so as not to disrupt food supplies elsewhere, EU trade commissioner Valdis Dombrovskis said.
Ukrainian President Volodymyr Zelensky complained to the EU leaders meeting in Brussels Thursday, via video link, that it was not fair Russian grain continued to have "unrestricted" access to their markets, while Ukrainian imports were being limited.
Brussels has been seeking to increase pressure on Moscow's finances after several rounds of sanctions that have already frozen Russian assets in the 27-nation bloc, targeted leaders including President Vladimir Putin and curbed trade.
At the same time, the European Commission has been multiplying concessions to EU farmers, who have been holding protests over depressed income, part of which they blame on grain imports from war-torn Ukraine.
Commission president Ursula von der Leyen said late on Thursday that the proposed tariffs would "prevent Russian grain from destabilising the EU market in these products".
Moscow warned against the plan.
"Consumers in Europe would definitely suffer," Kremlin spokesman Dmitry Peskov said.
- Global food security -
Dombrovskis, speaking on Friday, said: "Today's proposal will choke off another important source of revenue for the Russian government to fund its illegal war of aggression against Ukraine."
The tariffs were also to be imposed on products from Belarus, which served as a staging ground for Russia's all-out invasion of Ukraine.
The proposal follows an increase in Russian agricultural imports into the EU in 2023, according to the commission.
The tariffs would target imports of cereals, oilseeds and derived products from Russia and Belarus, applying at a level of either 95 euros ($103) per tonne or 50 percent of the value, depending on the product.
"Our proposed prohibitive tariffs will make imports of these products commercially unviable," Dombrovskis said.
"It will also help put a stop to the Russian practice of illegally exporting stolen Ukrainian grain into the EU", Dombrovskis said.
Under World Trade Organization rules, virtually all Russian grain has until now been exempt from EU import duties.
Despite sanctions taking aim at huge swathes of Russia's economy, the EU until now avoided targeting the farm or fertiliser sectors for fear of destabilising the global cereal market and undermining food security in Asia and Africa.
"We have been careful to uphold global food security," Dombrovskis said, adding that the move "will not affect the transit of Russian and Belarussian grain products to third countries."
Russia last year exported 4.2 million tonnes of cereals and related agricultural products to the EU, for a total value of 1.3 billion euros. Belarus imported 610,000 tonnes, with a value of 246 million euros.
V.Dantas--PC