Finland proposes EU impose tariffs on all imports from Russia as an addition to sanctions
Finland has proposed imposing tariffs on all goods imported from Russia to the European Union, Bloomberg reports.
According to Finnish Foreign Minister Elina Valtonen, such an initiative could work in parallel with existing EU sanctions and would not require unanimous support from all 27 member states.
"If in the future some of the sanctions lose their effectiveness, or whatever happens, we will still have these tariffs," Valtonen noted.
Finland's proposal came against the backdrop of another possible conflict within the EU over the continuation of sanctions against Russia.
In particular, it concerns the freezing of about 200 billion euros in assets of the Russian Central Bank and restrictions against hundreds of individuals, companies, and vessels that help the Russian Federation wage war.
EU sanctions are renewed every six months with unanimous approval by all countries. However, Hungary has repeatedly threatened to veto them, mostly to extract concessions in other areas.
Instead, the imposition of tariffs requires only a qualified majority – that is, the support of 15 out of 27 countries representing at least 65% of the EU population. The European Commission is currently studying the possibility of converting some of the sanctions into trade restrictions.
- On February 4, 2025, the head of European diplomacy, Kaia Kallas, stated that European allies should "creatively" use Russian frozen assets to help Ukraine.
- On February 7, it was reported that Russia was preparing a law on the confiscation of foreign assets in response to the freezing of its own.
- President Volodymyr Zelensky believes that Russia's assets should be seized while there is still an opportunity.
