RUSSIA TOLD BY WTO TO LIBERALISE PALM OIL IMPORT DUTY
August 1st, 2016
THE WORLD Trade Organisation (WTO) has told Russia that its import duties on palm oil and its fractions break global trading rules and it will have to cut or remove them. They are 3% at present, although they cannot fall below 0.09 EUR/kg. The order comes from a WTO disputes settlement panel in a case brought by the European Union (EU). It argued that because, when Russia joined the WTO in 2012, it had promised to keep these duties at 3%, the additional rule on minimum levels of 0.09 EUR/kg broke these commitments. The panel agreed, saying that this led ...
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