BMag Signal · In 30 seconds
Critical readWhat happened. The European Union has recently introduced limited imports of Ukrainian products, accusing them of being 'bundled together' as measures aimed at curbing costly imports from China. CEO of Metinvest, Yuriy Ryzhenkov, emphasized that the taxes imposed on imported EU metals are 'unjustified without consideration for Ukraine's situation.' He said he wants to see 'at least one exception' for access to the European economy.
The European Union has recently introduced limited imports of Ukrainian products, accusing these products of being 'bundled together' in measures aimed at curbing costly imports from China. CEO Yuriy Ryzhenkov of Metinvest emphasized that the taxes imposed on imported metal products from the EU are 'unjustified without consideration for Ukraine's situation.' He said he wants to see 'at least one exception' for access to the European economy. A statement from the Committee on Industrial Consultations of the European Commission (CECI) stated that the EU had 'considered the difficult situation of Ukraine' when deciding to prohibit imports of metallurgy and mining from 2024.
The taxes were imposed as an attempt to protect the metal producers of the EU member states. The EU had set a daily limit of 18.3 million tons of metallurgy and mining that could enter the EU market free - a reduction of 47% compared to levels in 2024. There were also specific quotas for some countries, but the main task was to reduce the amount of metallurgy and mining that could be imported based on the difficulties of competition with imports from China and Turkey.
Additionally, the EU had introduced import restrictions for protecting producers in areas adjacent to Russia where Ukraine has been involved in the war. CEO Ryzhenkov supported that the taxes imposed on imports of metallurgy and mining from the EU were 'unjustified without consideration for the situation of Ukraine.' He added that access to the European economy is crucial for the survival of the Ukrainian industry. He emphasized that the restrictions imposed by the EU do not help Ukraine, referring to the war with Russia.
The metal industry of Ukraine is a fundamental element of its economy. Before the Russian war, metallurgy and mining represented about 10% of Ukraine's national income and half of its exports. Imports of metallurgy and mining from development were its main customer.
But the industry has suffered from continuous Russian bombardment. All Ukrainian metallurgists have suffered from shellfire due to the war, but Ryzhenkov said that the most intense blows occurred after the war. Ukraine is an important producer of metallurgy for the EU, but even if the effort of the war has been made, Ukraine remains an important producer of metallurgy for the EU.
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