To aid Ukraine’s economy during the conflict with Russia, the European Commission suggested a one-year suspension of import taxes on all Ukrainian commodities and the relaxation of all EU anti-dumping and safeguard measures on Ukrainian steel exports on Wednesday.
“This far-reaching step is designed to help boost Ukraine‘s exports to the EU. It will help alleviate the difficult situation of Ukrainian producers and exporters in the face of Russia’s military invasion,” the Commission said in a statement.
To take effect, the measure, which offers Ukraine zero tariff and zero quota access to the EU market, must now be approved by the European Parliament and EU states.
“These measures will directly help Ukrainian producers and exporters. They will inject confidence into the Ukrainian economy,” Commission Vice President and Trade Commissioner Valdis Dombrovskis said.
Last year, bilateral commerce between the EU and Ukraine totaled more than 52 billion euros.
With the Russian navy cutting off Ukrainian shipping via the Black Sea, the EU has moved to assist land movement of Ukrainian commodities by liberalizing rules for Ukrainian truck drivers, enabling transit, and allowing the use of EU infrastructure.
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