Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EU urges Poland, Hungary, Slovakia to be constructive on Ukraine grain

Published 17/09/2023, 15:11
Updated 17/09/2023, 15:15
© Reuters. FILE PHOTO: European flags fly outside the European Commission headquarters in Brussels, Belgium March 13, 2023. REUTERS/Yves Herman/File Photo

BRUSSELS (Reuters) - The European Commission called on Poland, Hungary and Slovakia on Sunday to be constructive after they unilaterally declared they would continue to ban grain imports from Ukraine despite the Commission's decision to end the ban.

"We are aware of some Member States' announcements in respect to unilateral measures. What is important right now is that all countries work in the spirit of compromise and engage constructively," a Commission spokeswoman said.

Ukraine was one of the world's top grain exporters before Russia's 2022 invasion reduced its ability to ship agricultural produce to global markets through Black Sea ports. Since then, Ukrainian farmers have relied on grain exports through neighbouring countries.

However, the flood of grains and oilseeds into neighbouring countries has impacted the income of local farmers and resulted in governments banning agricultural imports from Ukraine.

The European Union in May stepped in to prevent individual countries acting unilaterally and imposed its own ban on imports from Ukraine into neighbouring countries. Under the EU ban, Ukraine was allowed to export through those countries on condition the produce was sold elsewhere.

The EU allowed that ban to expire on Friday after Ukraine pledged to take measures to tighten control of exports to neighbouring countries.

The issue is a particularly sensitive one in Poland, which is facing elections in October and where farmers are a key electorate of the ruling nationalist PiS party.

Poland, Slovakia and Hungary all announced on Friday they would keep their own restrictions on Ukrainian grain imports despite the Commission's decision.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"Our focus now is to put in place and make work the new system just announced," the Commission spokeswoman said, adding a meeting with representatives of all the interested EU countries on Monday would provide an opportunity to discuss the issue further.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.