By imposing high tariffs on premium-quality, low-cost Russian fertilizers, Europe is only hurting itself.

Axar.az reports, citing TASS, Kremlin Spokesman Dmitry Peskov stated this.

"As a result, the European Union will have to buy more expensive, lower quality nitrogen fertilizers elsewhere, replacing our fertilizers, including nitrogen fertilizers, which are of the highest quality. The demand for nitrogen fertilizers around the world, in other directions, is equally high. Therefore, I think, the markets in other directions will compensate for the European duties. As usual, the Europeans continue to shoot themselves in the foot," he noted.

On May 15, the European Parliament Committee backed the proposal to increase import duties on a wide range of agricultural products and some types of fertilizers originating or exported from Russia and Belarus. The proposal stipulates raising tariffs on Russian fertilizers gradually over several years. These duties will effectively become prohibitive. The final vote took place today, with the European Parliament officially approving the plan.