The European Union has extended by another year the cancellation of import duties on Ukrainian exports. This decision will become effective from 6 June 2023 and will be effective until 5 June 2024, inclusive.
The regulation of the European Parliament and the European Council of May 31 on extending for another year the abolition of import duties on Ukrainian exports was published in the EU official Journal on Monday.
The moratorium on duties imposed in 2022 will expire on June 5, 2023.
In order to prevent fraud in the preferential mechanisms established by the regulation, Ukraine must comply with a number of rules, including refraining from introducing new duties or charges and new quantitative restrictions or measures with equivalent effect, from increasing existing duties and charges, and from imposing any other restrictions in trade with the EU, unless clearly justified, the document says.
According to the regulation, if Ukraine fails to comply with any of these conditions, the EU may suspend the preferential mechanisms.
