Russia has announced increased import tariffs on consumer goods from countries that support sanctions against it. The tariffs, which take effect seven days after publication and will remain in place until December 31, 2024, target a wide range of goods, including wine, beer, candies, biscuits, shampoo, perfume, cosmetics, and wallpapers.
The move is seen as a retaliatory measure against Western sanctions imposed on Russia following its military conflict with Ukraine. The sanctions have already significantly impacted Russian imports, leading to a rise in prices for certain goods.
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The new tariffs will affect specific countries, including Poland, Lithuania, Latvia, and Estonia, all of which have imposed sanctions on Russia. The tariff rates vary depending on the product and country of origin, ranging from 20% to 50% of the customs value.
For example, tariffs on perfume, cosmetics, and shampoo from Poland will be raised to 35%, while duties for wallpapers from Lithuania, Latvia, and Estonia will reach 50%. Wine imports will face a 20% tariff.
These measures are likely to further strain trade relations between Russia and the affected countries, potentially leading to higher prices for consumers in Russia and a limited selection of imported goods.