Return of EU duties will destroy Ukraine's economy

Revenues from exports to the EU account for nearly a tenth of Ukraine's total export income ($41 billion in 2024), the Financial Times reported.

Ukraine hopes the EU will continue these measures, especially given the uncertainty over long-term U.S. support.

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Poland, Hungary, Slovakia and Bulgaria, oppose Ukraine's increased market access, fearing competition for their farmers.

The lack of an agreement would send a very wrong signal.

“The European Union is our key trading partner, so it would be really devastating for us if we were back in a situation like before the war,” Finance Minister Serhiy Marchenko said.

The most likely option is a temporary extension of the current agreement, but negotiations are progressing slowly and time is running out.

“Our producers need predictability on exports, the EU cannot start negotiations a week before the end of the current regulation,” he said.

Photo: uga.ua.

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