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EU agreed to extend Ukraine import tariff exemption for a year

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A tweet issued by the European Council on May 24 stated that EU member state ministers responsible for trade had reached a consensus at Thursday's meeting to extend the exemption of Ukraine's import duties for another Year.

 

Following the outbreak of the Russia-Ukraine conflict in 2022, the EU canceled Ukrainian import tariffs in 2022/23 (July-June) in June. This has contributed to the influx of Ukrainian grain and other products into EU neighbors such as Poland.

 

Although the EU’s move is to help Ukraine’s grain export to other countries in the world, a large amount of grain is stranded in five neighboring countries including Hungary, Poland, Bulgaria, Romania, and Slovak Poland, resulting in a drop in grain prices in these countries and a loss of domestic farmers’ income. Protests sparked mass protests, leading five countries to ban imports of Ukrainian grains and oilseeds, but allow transit exports to other places.


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