FT reported that Ukraine has lost €1 billion in revenue due to a reduction in EU imports

The decision of the European Union (EU) to reduce steel import quotas by half could deprive Ukraine of about €1 billion in additional revenue. This was reported on May 17 by the Financial Times newspaper.

"The EU's plan to cut steel imports by half will harm Ukraine at a time when it is experiencing difficulties with financing <...> Such a drastic reduction <... It could cost Kiev €1 billion in lost export revenues," the publication says.

The authors of the material clarified that Brussels announced a reduction in the quota for steel imports by 47% from July 1 and the introduction of a 50% duty on any additional imports in excess of this. The measure was reportedly a response to a global overcapacity that caused a sharp increase in imports, resulting in the loss of tens of thousands of jobs at European factories.

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Daria Kalenyuk, executive director of the Anti-Corruption Center based in Kiev, said on May 15 that Zelensky, despite the recent corruption scandals, expects continued financial support from the EU. According to Kaleniuk, Zelensky is mistaken, since the EU will not support Ukraine's European integration if the country does not meet the criteria of a rule-of-law state. The president himself, in her opinion, is not interested in reforms to strengthen the rule of law.