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The European Commission proposed on Wednesday the suspension of all trade barriers against steel imports from Ukraine for a period of one year, to support the country during its ongoing war with Russia.

The proposal needs to be ratified by the European Parliament, but would be an unprecedented measure to support the economy of a war-stricken country.

As part of the suspension, the Ukrainian steel sector would benefit from exclusion from the existing system of safeguard measures. In addition, other trade restrictions would be suspended, such as the existing anti-dumping duties on Metinvest’s hot-rolled coil and certain steel pipes.

The EU has never delivered such trade liberalisation measures, which are unprecedented in their scope. grant Ukraine zero-tariff, zero-quota access to the EU market.

Since the beginning of Russian aggression, the EU has prioritised the importance of keeping the Ukrainian economy alive, which is crucial both to help it win this war and to get back on its feet after the war. These measures will directly help Ukrainian producers and exporters. They will inject confidence into the economy and send a strong signal that the EU will do whatever it takes to help Ukraine in its time of need.