EU extends suspension of import duties on goods from Ukraine for another year

MOSCOW. June 5 (Interfax) - The European Union has extended for another year the suspension of import duties on exports from Ukraine, and the decision comes into force on June 6, 2023, and is valid through June 5, 2024, the EU said in its Official Journal.

The regulation of the European Parliament and the European Council, dated May 31, 2023, on extending for another year the suspension of import duties on exports from Ukraine, was published on Monday.

The duty moratorium implemented last year expires on June 5, 2023.

In order to prevent fraud in the preferential arrangements as established in the regulation, Ukraine must comply with a number of rules. The rules include refraining from introducing new duties or fees and new quantitative restrictions or measures having an equivalent effect; refraining from raising existing duties and fees; and refraining from imposing any other restrictions on trade with the EU, unless it is clearly justified, according to the wording of the document.

According to the regulation, the EU could suspend the preferential arrangements if Ukraine does not comply with any of the terms and conditions.