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EEC Council Granted Six-Month Tariff Exemption on Butter Imported to Republic of Armenia and Russian Federation
The Eurasian Economic Commission's Council has decided to grant exemption from import customs duty to butter imported into the Republic of Armenia in the amount of no more than 2,000 tons and into the Russian Federation in the amount of no more than 25,000 tons. The specified customs tariff regulation measure will be in effect from the date the document enters into force until June 15, 2025.
“The introduction of the measure is necessary to ensure additional supply of butter in the domestic market in order to contain prices and prevent shortages. The supplied butter can be used both for food production and retail sale,” noted Andrey Slepnev, EEC Minister in charge of Trade.
He stressed that the decision would ensure a balance between supply and demand in the short term without detriment to the production of other dairy products, given the limited resource potential. In particular, imports may come from Iran and India.
The tariff exemption will be provided upon presentation of confirmation issued by the authorized body of the Republic of Armenia or the Russian Federation.
The Decision shall come into effect after 10 days have elapsed from the date of its official publication.
