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    EU extends suspension of tariffs on Ukrainian exports

    EU Extends Suspension of Tariffs on Ukrainian Exports for Another Year

    The suspension of tariffs on Ukrainian exports to the EU has been extended for another year, until June 5, 2025. This extension, agreed upon by the Council Presidency and European Parliament negotiators, demonstrates the EU’s continued political and financial support for Ukraine in the face of Russia’s ongoing military aggression. The decision aims to aid Ukraine’s economy amid challenging circumstances and assist in its integration into the EU market.

    Under the renewed regulation, all outstanding tariffs and quotas on Ukrainian exports to the EU will remain suspended. This falls under Title IV of the Association Agreement between the EU and Ukraine, establishing a deep and comprehensive free trade area (DCFTA). Additionally, the agreement includes provisions to safeguard the EU market, including strengthened monitoring mechanisms and automatic safeguard measures.

    To protect sensitive agricultural products, such as poultry, eggs, sugar, oats, maize, oatmeal, and honey, the EU has introduced new safeguards. These measures aim to address any adverse effects on the market of individual EU member states, rather than just the EU market as a whole.

    The interim agreement also extends the scope of the automatic safeguard mechanism to include four additional products: oats, maize, groats, and honey. Furthermore, it shortens the period for activating automatic safeguards from 21 to 14 days. The European Commission has committed to enhanced monitoring of wheat and other grain imports, with a pledge to intervene in case of market disturbances.

    The decision to extend the suspension of tariffs underscores the EU’s commitment to supporting Ukraine’s economy and sovereignty amidst ongoing geopolitical challenges. By providing continued trade benefits and safeguards, the EU aims to facilitate Ukraine’s long-term recovery and integration into the European market.

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