Posted on 07 Apr 2022
Australia has imposed additional duties on all imports from Russia and Belarus, according to the Prime Minister of Australia website.
The country will withdraw entitlement to the Most-Favoured-Nation (MFN) tariff treatment and apply an additional tariff of 35% to all imports from Russia and Belarus, Kallanish notes. This will take effect from 25 April and will be in addition to general duty rates that currently apply.
Meanwhile, Australia will ban the import of energy, oil and gas products from Russia, and ban exports of alumina and aluminium ores (including bauxite) to Russia from 25 April.
In order to support the people of Ukraine, Australia will provide $65 million in humanitarian assistance, 70,000 tonnes of thermal coal to support Ukraine's energy security, as well as temporary protection visas and assistance to Ukrainian community groups in Australia.
According to the United Nations COMTRADE database, Australia imported $55.19 million of iron and steel products from Russia in 2021. This is a fraction of its $6.22 billion total imports of iron and steel products in the same year.
Source:Kallanish
