EU Afoot to Restrict Food Imports from Ukraine

After several countries in Eastern Europe began to unilaterally suspend the import of Ukrainian food, the European Union decided to centrally impose restrictions on the import of certain agricultural products from Ukraine, Reuters reports citing a representative of the European Commission. According to the agency, the European Commission is considering what it calls “preventive measures” in relation to several categories of grains and oilseeds, primarily wheat, corn, sunflower and rapeseed. EU trade rules allow the European Commission to ban imports of certain goods to entire union or its part while still allowing transit. Eastern European farmers affected are about to get compensation totaling about 100 million euros. Details will be discussed today, Wednesday, at a meeting of European Trade Commissioner Valdis Dombrovskis with ministers from Bulgaria, Romania, Hungary, Slovakia and Poland, including relevant officials from Ukraine. In an effort to support Ukrainian farmers, the EU canceled duties on imports of Ukrainian products, but this led to a dramatic drop in prices for similar products in Eastern Europe.