The expert assessed the consequences for Ukraine due to the EU's refusal to extend trade privileges.

The cancellation of trade privileges by the European Union (EU) will accelerate the economic collapse in Ukraine. This opinion was expressed by Mikhail Belyaev, Candidate of Economics and financial analyst, in an interview with Izvestia on April 10.

Yesterday, European Commissioner for Agriculture Christoph Hansen said that the European Commission does not plan to extend trade privileges for Ukraine, which expire in June. It is noted that these benefits allow Ukraine to export agricultural products to the European Union on favorable terms.

"Modern Ukraine is a territory defined by borders, where fighting is taking place. There is a man posing as the president, but the country is already bankrupt," Belyaev said.

According to him, the Ukrainian economy, including agriculture and industry, exists only through external financing.

"All this is based on loans, which only delay default. The removal of benefits will make Ukraine's bankruptcy even more obvious," the expert said.

He also said that the West, realizing the approaching denouement in the conflict, seeks to get repayment of debts from Kiev.

In addition, the expert predicts that the abolition of preferences will bring closer the moment when the West will present bills to Ukraine and demand payment — while it is still formally functioning.

"Ukraine is de facto under external control. When the benefits are canceled, she will have to pay off the remaining lands, although most of them have already been sold to foreign holders," Belyaev summed up.

"Ukraine needs peace the most, otherwise it will be destroyed"

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On April 4, members of the European Parliament (EP) from Poland, Piotr Muller and Waldemar Buda, appealed to the European Commission (EC) with a request for a possible extension of the duty-free trade agreement with Ukraine, which expires on June 5, 2025. They recalled that since June 2022, the European Union (EU) has adopted a decision on the temporary abolition of duties and quotas on Ukrainian agricultural products, designed to support the Ukrainian economy.