EU extends preferential import conditions for Ukrainian steel for 3 years
Kyiv • UNN
The EU Council has extended the suspension of safeguard measures on imports of Ukrainian steel and iron for three years. This is to support Ukraine's economy amid the war with Russia.
The EU is extending the preferential regime for imports of Ukrainian iron and steel for three years, the EU Council said on Thursday, UNN reports.
The Council (EU) today adopted a decision to extend the suspension of EU safeguard measures on iron and steel to support Ukraine's economy amid Russia's aggressive war. The aim is to alleviate the problems faced by Ukrainian producers and exporters as a result of the war,
Details
However, as indicated, the European Commission will be able to adopt an implementing act on the suspension of this decision for certain products for a period of up to 12 months.
"The suspension will be adopted if imports of these products from Ukraine increase to a level that causes significant damage or threatens to cause damage to the Union industry producing similar or directly competing products," the statement said.
Next steps
The decision will take effect on June 6 and will apply for three years.
Addition
Since 2018, the EU has been taking safeguard measures on certain imports of iron and steel to protect its producers from global overproduction.
As part of the EU's support for Ukraine in the context of Russia's illegal war of aggression, Ukraine has been exempted from these measures. Today, the EU Council adopted a decision allowing this exemption to be extended.