The EU is in talks to exempt Ukrainian steel from a key climate protection measure, according to Kyiv’s envoy to the EU.
An unprecedented exemption from the bloc’s import tax on a carbon-intensive product would give Ukraine much-needed revenue in its fight against Russia, while providing Europe with cheaper access to a critical resource for its military buildup.
Yuriy Ryzhenkov, CEO of Metinvest — a Ukrainian mining and metallurgical giant with operations in Italy, Bulgaria and the U.K. — said Kyiv’s Deputy Prime Minister Taras Kachka had approached his company about their negotiations on the Carbon Border Adjustment Mechanism, which is intended to provide a level playing field between EU firms and those outside the bloc that aren’t subject to its strict environmental regulations.
“He’s asking us for some analytics,” Ryzhenkov said. “He’s asking us for some ideas.”
