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EU Extends Tariff-Free Steel Access for Ukraine Through 2028
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![Photo of Vlad Litnarovych]( "Photo of Vlad Litnarovych")
The Council of the European Union officially extended its suspension of safeguard measures on Ukrainian iron and steel products in a move aimed at bolstering Ukraine’s economy as it continues to resist Russia’s full-scale invasion, the European Council announced on June 5.
“The Council today adopted a regulation extending the suspension of EU safeguard measures on iron and steel in order to support Ukraine’s economy in the face of Russia’s war of aggression. The objective is to ease the challenges faced by Ukrainian producers as a result of the war,” the statement reads.
The updated regulation will take effect on June 6 and remain in force for three years. The move essentially allows Ukrainian exporters continued tariff-free access to the EU market for iron and steel products, sidestepping restrictions that normally apply to other global producers.
However, the European Commission reserves the right to temporarily reintroduce safeguards for up to 12 months on specific steel products if imports from Ukraine begin to pose a serious threat to the stability of the European steel industry.
The EU first implemented protective trade measures on steel imports in 2018 to shield its domestic industry from global overproduction and surging imports.
Since the onset of Russia’s full-scale invasion of Ukraine in 2022, the EU has exempted Ukraine from these safeguards as part of a broader strategy to support the country’s economy, including through trade liberalization and defense assistance.
Earlier, The European Parliament approved a package of trade measures aimed at limiting Russia’s ability to finance its war against Ukraine while strengthening the EU’s food and economic security.
-21d0b63c17f6020e4df75f6c6f9a2f4f.jpg "Photo of Ivan Khomenko")
