European Commission plans to cut tariffs on exports from Armenia in response to Russian restrictions

The European Commission plans to cut tariffs on exports from Armenia in response to Russian restrictions — FT

The EU wants to provide Armenia with "emergency trade assistance" to offset the restrictions imposed by Russia. Financial Times reports this, citing sources.

According to the newspaper's sources, the European Commission is developing "autonomous trade measures" to reduce duties on exports of Armenian food products and agricultural goods.

The measures require approval from a majority of EU member states and the European Parliament. They could cover most categories of goods affected by the Russian bans; their value amounts to about 420 million euros per year.

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