EU to expand allowances to iron and fertilizer imports

Published: 19.12.2022 Related countries:  Japan Japan

The Czech Presidency of the Council of the EU (CZPRES) announced the reaching of a preliminary agreement between EU member states and the European Parliament on the introduction of a carbon duty to be paid by suppliers of iron, steel and fertilizers when imported into the Union.

CZPRES, which represented the member countries at the meeting, further stated that the agreement must be confirmed by the ambassadors of the EU member countries and the EP. It should apply from October 2023. It introduces the obligation for importers to purchase special certificates that will balance the difference between the price of emissions in the exporting country and the cost of emission allowances in the EU.