Ukraine should be exempted from steel quotas under the EU’s new trade measure – Luca Zanotti

The European Union's introduction of quotas for Ukraine would be a major step backward

Luca Zanotti, CEO of the Ukrainian industrial company Interpipe, believes that Ukraine should be exempted from steel quotas under the EU’s new trade measures.

“We are not just looking for diplomacy,” he said during a video interview with the American publication Politico, noting that the three main EU institutions have agreed that Ukraine is a special case entitled to trade preferences following Russia’s full-scale invasion in 2022.

“There is specific wording stating that Ukraine is facing an ‘exceptional and immediate security situation,’ which will contribute to its special status,” he noted.

Zanotti also added: “There are forces in Europe that have a strong political intention to distort the spirit and wording of laws concerning Ukraine.”

According to him, if the EU imposes quotas on Ukraine, where steel production has fallen by 80% compared to pre-2022 levels, it would be “a very serious step backward.”

As a reminder, the European Union will double import duties on steel to 50% starting July 1. At the same time, the quota allowing for the import of certain quantities without taxation will be cut nearly in half.