Russia’s new tariffs on ‘unfriendly nations’ likely to impact Hungary
Russia has announced new punitive tariffs on imports from countries it deems “unfriendly,” effective 1 January 2025. These measures, primarily targeting agricultural and food products, could affect Hungary despite minimal trade in the impacted categories.
As Portfolio reports, according to Russia’s state news agency TASZSZ, the tariffs will increase by an average of 10%, affecting goods such as meat, fish, vegetables, fruits, seeds, flour, pasta, sauces, and beverages. Notably, duties on beer and cider will surge from EUR 0.10 per litre to EUR 1 per litre.
The Kremlin claims the move aims to bolster domestic industries and counteract Western sanctions imposed on Russia. Countries labelled “unfriendly” include those supporting sanctions and political measures against Moscow. Hungary has been on this list since March 2022.
While Hungary’s trade volume in these categories with Moscow is negligible, the tariffs underscore the growing economic rift between Moscow and Western-aligned nations, highlighting the broader implications of geopolitical tensions.
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Russia’s economy is roaring ahead and the West’s precious little sanctions have had no discernible effect on the country. They, plus the support for the forever-war in Ukraine, have greatly screwed OUR economies and standard of living, however. Great going!
But hey, I’m sure our “partners” in the E.U. are going to step in and help us deal with the fallout of these dumb policies.
Anything but peace talks!
So much for Russian “friendship”. Hope more countries in Europe finally open their eyes.
Very, very, very – HOT and GROWING disagreement, this topic – the word TARIFFS in the United States of America, coming out the “Mouth” of the “incumbent, his “second coming” – as the President of the United States of America – Donald J. Trump.
Putin / Trump – could there BE, on there DEDICATED lines of COMMUNICATION with other, a “joint” GOAL, in what they are planning there OUTCOME expectations by the increasing of Tariffs ???
FOLLOW it, but Orban – Hungary, weather it is or may GO – nothing – absolutely NOTHING – is going to get CHEAPER in Hungary – NOTHING.