Would you like to receive notifications on latest updates of the following headlines?

Russia Increases Import Tariffs for Consumer Goods from 'Unfriendly Countries'

POSTED ON July 21, 2024 •   Business      BY Abiodun Saheed Omodara
A Russian national tricolor flag flutters on a tourist boat as another boat passes by along the Moskva river in central Moscow on July 18, 2024. l Photo Credit: Natalia KOLESNIKOVA /AFP

Russia has raised import tariffs for various consumer goods such as candies, biscuits, and shampoo from countries that have imposed sanctions against Moscow.

This move comes as a response to the decline in Russian imports from nations that have placed sanctions on Russia due to its military conflict with Ukraine.

Despite some Western producers halting sales to Russia, the country has found alternative methods to ensure goods continue to flow in, including a grey imports scheme.

The government order specifies that tariffs for items like perfume, cosmetics, and shampoo from Poland will be set at 35% of the customs value, while duties for wallpapers from Lithuania, Latvia, and Estonia will increase to 50%.

These new tariffs will remain in effect until December 31, 2024, and will be implemented seven days after their publication.

READ ALSO
Osun advocate railway service extension to enhance economic productivity
BY Benedicta Bassey December 26, 2024 0

OSUN STATE, Nigeria —The Osun State government has called on the Nigerian Railway Corporation...

READ ALSO
Website Hack: NBS budgets N35m for cybersecurity training
BY Abiodun Saheed Omodara December 26, 2024 0

The National Bureau of Statistics has earmarked N35m in its 2025 budget proposal for “Capacity...

READ ALSO
CBN disqualifies 41.65m Access Holdings shares
BY Abiodun Saheed Omodara December 26, 2024 0

The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings...

READ ALSO
W’Bank removes loan fees for vulnerable nations
BY Abiodun Saheed Omodara December 26, 2024 0

The World Bank has announced the removal of several loan fees to make borrowing more affordable for...

READ ALSO
2025 Budget : Gombe set 10% for debt servicing
BY Abiodun Saheed Omodara December 25, 2024 0

The Gombe State Commissioner for Finance and Economic Development, Gambo Magaji, on Tuesday, reveale...

READ ALSO
LASG shut Coca-Cola, two others over water usage standards
BY Abiodun Saheed Omodara December 25, 2024 0

The Lagos State Government, through its Water Regulatory Commission, has sealed three companies for...

READ ALSO
No regret removing fuel subsidy- Tinubu
BY Abiodun Saheed Omodara December 24, 2024 0

ABUJA, Nigeria - President Bola Tinubu, on Monday, said he had no regret removing fuel subsidy. The...

READ ALSO
FG lifts ban on mining to boost Zamfara’s IGR
BY Abiodun Saheed Omodara December 23, 2024 0

ZAMFARA, Nigeria - The Minister of State for Defence, Bello Matawalle, announced that the President...

OUR CHANNELS:

Osun advocate railway service extension to enhance economic productivity
BY Benedicta Bassey December 27, 2024 0

OSUN STATE, Nigeria —The Osun State government has called on the Nigerian Railway Corporation...


38 dead in Azerbaijan Airlines plane crash on Christmas Day celebration
BY Benedicta Bassey December 26, 2024 0

No fewer than thirty-eight people reported lost their lives following the Azerbaijan Airlines plane...


Taiwanese Politician Ko Wen-je indicted for corruption faces jail term
BY Benedicta Bassey December 26, 2024 0

TAIPEI  —  Ko Wen-je, a former Taipei mayor and presidential contender, was indicted...


Valencia employs West Brom’s manager after sacking Ruben Baraja
BY Abiodun Saheed Omodara December 26, 2024 0

Spanish football club giant, Valencia, has appointed the English championship team, West Bromwich Al...


Website Hack: NBS budgets N35m for cybersecurity training
BY Abiodun Saheed Omodara December 26, 2024 0

The National Bureau of Statistics has earmarked N35m in its 2025 budget proposal for “Capacity...


Tinubu, Ogun leaders champion tech innovation
BY Abiodun Saheed Omodara December 26, 2024 0

The City Boy Movement, Ogun State Chapter, awarded N14m to winners of its technology grant initiativ...


CBN disqualifies 41.65m Access Holdings shares
BY Abiodun Saheed Omodara December 26, 2024 0

The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings...


W’Bank removes loan fees for vulnerable nations
BY Abiodun Saheed Omodara December 26, 2024 0

The World Bank has announced the removal of several loan fees to make borrowing more affordable for...


2025 Budget : Gombe set 10% for debt servicing
BY Abiodun Saheed Omodara December 25, 2024 0

The Gombe State Commissioner for Finance and Economic Development, Gambo Magaji, on Tuesday, reveale...


Tinubu's media chat reveals APC's insensitivity to Nigerians – PDP
BY Abiodun Saheed Omodara December 25, 2024 0

The People’s Democratic Party (PDP), has reacted to President Bola Tinubu’s maiden media...


More Articles

Load more...

Menu