The Council of the European Union supported the extension of the preferential regime for imports of Ukrainian steel and iron into the EU, which expires on June 5.
Points of attention
- The EU Council's decision to extend the preferential regime for imports of steel and iron from Ukraine aims at supporting the Ukrainian economy amidst the Russian invasion.
- The extension will be in effect from June 6, 2025, for three years, allowing Ukrainian producers to avoid restrictions and benefit from 'visa-free trade' for this specific sector.
- The European Commission has the authority to suspend the regulation for individual products if there is a threat to EU industry, showcasing a balanced approach to safeguarding European interests.
EU supports “visa-free trade” for Ukraine for steel and iron
This decision is aimed at supporting the Ukrainian economy in the face of the Russian invasion. It will enter into force on June 6, 2025 and will be valid for three years.
This is stated on the website of the Council of the EU.
The decision allows Ukrainian iron and steel producers and exporters to avoid restrictions introduced back in 2018 to protect European industry from excessive global supply.
At the same time, the European Commission reserves the right to temporarily suspend the application of this regulation for individual products for a period of up to 12 months.
The decision to suspend will be taken if imports of these goods from Ukraine increase to a level that causes or threatens to cause material injury to the EU industry producing like or directly competing goods.
