The Strategist

EU extends zero imports restrictions for Ukrainian goods

05/26/2023 - 03:45

According to the press office of the international organization, the Council of the European Union (EU) has extended the halt on all taxes and quotas on exports of commodities from Ukraine. In addition to helping Kiev maintain its economy in the midst of the crisis with Russia, Brussels notes that the step will assist in keeping stable economic relations between the EU and Ukraine.

According to Johan Forssell, Swedish Minister for International Development Cooperation (chair of the EU Council), "the updated trade measures will clearly support Ukraine and at the same time allow the EU to protect the domestic market from a significant increase in imports of certain agricultural products if necessary."

The rule is applicable to produce subject to entry fees, agricultural products, items with tariff quotas, as well as imports of goods with anti-dumping duties.

In June 2022, the EU Council made its initial decision to halt the collection of charges on Ukrainian imports. Farmers from several Eastern European nations grumbled about the losses they suffered as a result of this approach in the spring of 2023 because grain and agricultural products from Ukraine were considerably more affordable than those from their own countries. In return, the EU promised to donate €100 million to help farmers in nations surrounding Ukraine.