EU suspends all duties on imports from Ukraine

EU suspends all duties on imports from Ukraine.

The Council of the European Union, which represents 27 member states, approved the abolition of customs duties on imports of goods from Ukraine for one year, in order to help the economy of that country due to the Russian occupation.

The measure proposed by the European Commission was approved by the European Parliament on 19 May.

“The abolition of customs duties will facilitate trade with Ukraine after the (Russian) aggression and will help its economy,” said vice President Valdis Dombrovskis.

According to the European executive body, trade between the EU and Ukraine reached 52 billion euros last year.

According to the International Monetary Fund (IMF), Ukraine’s Gross Domestic Product is expected to decline by 35 percent this year.

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