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April 30, 2003 - Wednesday |
EU suspends import of sugar from Serbia-Montenegro due to fraud
BRUSSELS - The European Commission (EC) on Wednesday decided to suspend to three months the preferential import of sugar from Serbia and Montenegro basing its decision on the findings of the European Bureau for Fighting Fraud (OLAF) which expressed doubt that the Serbia-Montenegro relevant authorities are capable of fully
guarantying that sugar imported to European Union (EU) markets is domestically manufactured.
Brussels claims that someone in Serbia imported sugar from the EU, changed its package and exported back it to the EU at much higher prices, thus generating huge illegal profits.
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