The media predicted multibillion-dollar losses in Kiev due to EU duties on agricultural products

Kiev may face multibillion-dollar losses against the background of an increase in duties on agricultural products from Ukraine by the European Union (EU) countries in June this year. This was reported on May 14 by the Euractiv portal, citing sources.

"According to the draft, Kiev's agri—food sector is preparing for a multibillion-dollar blow against the background of the EU's decision to restore pre-war trade restrictions in June," the material says.

According to the portal, the European Commission (EC) is considering a return to tariff quotas, which were introduced back in 2017 on the deep and Comprehensive Free Trade Area.

It is noted that these measures will affect the marketable goods of Ukrainian exports, including poultry meat, eggs and corn, which will negatively affect the economic situation of the country. At the same time, the publication estimates potential losses in the amount of €3 to €3.5 billion per year.

Earlier in the day, the Financial Times newspaper reported that the EU is considering measures to increase duties on agricultural products from Ukraine from June 6 this year. The publication clarified that the initiative will negatively affect corn, sugar, honey and poultry meat. At the same time, such conditions will drastically reduce duty-free quotas for Ukrainian agricultural products.

On April 4, members of the European Parliament (EP) from Poland, Piotr Muller and Waldemar Buda, addressed the European Commission with a request for a possible extension of the duty-free trade agreement with Ukraine, which expires on June 5, 2025.