Maxim Chmora, head of the main department of federal customs revenue & tariff regulation of the Federal Customs Service of Russia, warned that a 200% protective duty could be applied to wine imports from NATO states.
Moscow is also planning to slap a 50% tariff on wines from other so-called ‘unfriendly’ states, according to Chmora.
‘We understand that this duty will basically be like a ban,’ he said. ‘Paying the duty and then carrying on with business, from an economic point of view, is possible only for very high-margin products.’
European wines currently dominate the Russian market, but they will effectively be prohibited if Russia follows through on its threat.
The move would be in response to a range of sanctions imposed upon Russia in the wake of its decision to invade Ukraine in February 2022.
Western nations have frozen Russia’s foreign currency reserves, and some Russian banks have been excluded from the Swift payment system.
Oligarchs have been sanctioned, yachts have been seized, and a slew of western companies have left Russia, from Coca-Cola to Heineken.
EU countries have also stopped exporting various goods to Russia, while imports of gold, diamonds and other products from Russia have been banned.
Moscow is now planning to retaliate by imposing high duties on wine imports from European nations.
DWWA results out 19 June!
Be the first to know: Subscribe to the DWWA newsletter
The proposed tariffs are also designed to give domestic wine producers a timely boost. While the majority
