The European Parliament has announced that it has voted in favor of extending the suspension of import duties and quotas for iron and steel imports from Ukraine due to expire on June 5 this year for another three years. The exemptions have been in place since June 2022.
Karin Karlsbro, rapporteur of the parliament, stated that the Ukrainian steel industry is the foundation of the Ukrainian economy and that extending the relations between the EU and Ukraine is a mutually beneficial exchange that strengthens both parties.
The new regulation will be in force until June 2028, once the European Council gives final approval. The European Commission is also working on a longer-term solution to offer economic certainty for EU-Ukraine trade.