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2026-05-22 23:52:38
[EU Announces Suspension of Tariffs on Some Fertilizers to Mitigate Impact of Middle East Conflict] The European Council announced on the 22nd that the EU has decided to suspend import tariffs on key nitrogen fertilizers such as urea and ammonia for one year to mitigate the cost impact of the Middle East conflict on EU agriculture. This measure will take effect the day after its publication in the Official Journal of the European Union. Affected by the Middle East situation, the Strait of Hormuz, which carries about one-third of the world's seaborne fertilizer trade, has been blocked, triggering a sharp rise in global fertilizer prices. The UN Food and Agriculture Organization previously warned that a prolonged blockade of the Strait of Hormuz could lead to disaster in the agricultural and food sectors. The announcement stated that the suspension of tariffs aims to reduce production costs for the EU's agricultural and fertilizer industries, and is expected to save them approximately €60 million in tariff expenditures. However, this tariff exemption does not apply to fertilizer products imported from Russia and Belarus. Currently, although the EU exempts fertilizer imports from countries with preferential access policies from tariffs, it still imposes tariffs of 5.5% to 6.5% on large-scale fertilizer imports from other countries and regions. The announcement shows that the EU imported 2 million tons of ammonia and 5.9 million tons of urea in 2024. (Xinhua)
