The European Commission on Wednesday, 27th April 2022 proposed to suspend for one year all import duties from Ukraine to the European Union to help the country during the war with Russia.
The measure will also include a one-year halt on anti-dumping and safeguard measures on Ukrainian steel exports. However, the measure will have to be approved by the European Parliament and European Council.
Keynotes
- European Commission has put in place various incentives to support Ukraine since the invasion by Russia.
- On the 25th of February 2022, the European Commission adopted a package of individual and economic measuresbuilt on five pillars: the financial sector, energy sector, transport sector, technology sector, and immigration sector.
- On the 27th of February, the Commission proposed additional support measures for Ukraine and sanctions against Russia.
- On the 28th of February, the Commission announced an additional program to help civilians affected by the war in Ukraine, as part of an urgent aid appeal by the United Nations.
- As of the 2nd of March, the EU agreed to exclude key Russian banks from the SWIFT system, the world’s dominant financial messaging system.
- As of the 9th of March, The Council decided to impose further targeted sanctions in view of the situation in Ukraine and in response to Belarus’s involvement in the aggression.
- As of the 11th of March, the Commission disbursed €300 million in emergency Macro-Financial Assistance to Ukraine. This is the initial part of the first €600 million installments under Ukraine’s new €1.2 billion emergency MFA program.
- As of 17th April, the EU has allocated a further €50 million in humanitarian funding to support the people affected by Russia’s war on Ukraine, including €45 million for humanitarian projects in Ukraine and €5 million for Moldova. This brings the EU’s total humanitarian aid funding in response to the war to €143 million.
