The European Commission has promised to take into account Ukraine’s difficult situation related to Russian aggression while developing new restrictions on steel imports, in order to support the export of metallurgical products from Ukraine to EU countries. This was reported by the official representative of the EC, Paola Pinu.
This is reported by Finway
Ukraine retains special status among steel exporters to the EU
According to Paola Pinu, Ukraine remains an important partner for the European steel market. She emphasized that the EU is closely monitoring to ensure that Ukraine can benefit from a special quota that will allow it to continue exporting steel, even if the volumes are lower than in previous years.
“Ukraine remains an important steel importer in the EU, and we are ensuring that it can benefit from a special quota, allowing its exports to the EU to continue, even if the level is lower than in previous years. During negotiations and at the time of making a decision on the exact quota, we will certainly take into account the special and very difficult current situation in Ukraine.”
During a briefing in Brussels, the EC representative was asked to comment on how the new restrictions would affect Ukraine. The European Commission believes that excess steel production worldwide poses a threat to European producers, which is why the conditions for importing metal products are being reviewed.
New quotas and tariffs: what will change for Ukrainian producers
According to The Financial Times, the potential introduction of new restrictions could lead to Ukraine losing about 1 billion euros in steel export revenue. From July 1, the European Union plans to reduce quotas on the import of metallurgical products by 47%, and impose a 50% tariff on volumes exceeding these quotas.
Paola Pinu noted that the new restrictions will apply to all EU trading partners, even those with which free trade agreements have been established. These countries account for over 80% of steel imports to the European Union. At the same time, countries in the European Economic Area – Iceland, Liechtenstein, and Norway – will receive partial relief from these measures due to their integration into the EU single market.
Each exporting country will receive individually defined quotas, and specific additional measures may be introduced for some countries to take into account specific circumstances. Thus, the issue of Ukrainian steel exports to the European Union will remain a subject of separate consideration at the European level.