EU Turns to WTO Over Russia’s Import Duties

European Commission said in a statement that EU has requested the establishment of a World Trade Organization dispute settlement panel over what it sees as Russia's "excessive import duties".

BRUSSELS (Sputnik) – The European Union has requested the establishment of a World Trade Organization dispute settlement panel over what it sees as Russia's "excessive import duties," the European Commission said in a statement Thursday.

"The EU requested today the establishment of a dispute settlement panel at the World Trade Organization (WTO) in Geneva concerning Russia's excessive import duties, in particular on paper products, refrigerators and palm oil," the statement reads.

According to the document, Russia's allegedly excessive import duties have a "clear negative impact" on European exports of paper, refrigerators and palm oil that are worth about 600 million euro ($675 million) a year.

Late in November, 2014 the European Union and Russia held formal WTO consultations over the matter but the dispute remained unresolved.

The WTO Dispute Settlement Body (DSB) will now examine the EU"s request at a meeting on March 10. Russia will have a right to object to the establishment of the panel. However, if the EU tables the issue again, Moscow will not be able to block it for a second time.