EUR 1 bn EU aid for Ukraine

The European Union on Monday formally approved a one-billion-euro assistance package to help Ukraine’s interim authorities overcome the country’s deep financial problems, informs.
And in a further move to revive the Ukrainian economy, EU foreign ministers meeting in Luxembourg also signed off on a plan to lower customs duties on Ukrainian goods that could save the country almost EUR 500 M euros a year.
The ministers also added four people to a list of 18 Ukrainians subject to an EU visa ban and asset freeze since March 5 for misappropriating Ukrainian state funds. The EU medium-term loan of almost one billion euros is aimed at helping Ukraine cover its balance-of-payments needs and comes in addition to 610 million euros of aid that has been approved but not yet disbursed. The cut in trade tariffs for Ukrainian imports until November 1 is a one-sided measure that will not affect duties on exports to Ukraine from the 28-nation bloc. Romanian Foreign Affairs Minister Titus Corlatean participated to the meeting.

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