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The European Union will drastically reduce imports of Ukrainian wheat and sugar, by up to 80%—to protect its farmers, a move expected to shift Ukraine's exports toward Asia and Africa.
The new quotas, confirmed Friday, mark a reversal of wartime trade liberalization that saw the EU waive duties and quotas for Ukraine following Russia’s 2022 invasion.
The new annual wheat quota is set at 1.3 million metric tons down significantly from the 4.5–6.5 million tons imported duty-free in recent years. For sugar, the EU will allow 100,000 tons annually—well below the over 500,000 tons imported in 2023/24.
Brussels says the changes are meant to stabilize European markets, as local farmers protest rising costs, relaxed rules for Ukrainian goods, and looming trade deals with other blocs.
The move could force Ukrainian producers to look toward North Africa and Asia to make up for lost EU sales.
Other changes include barley imports capped at 450,000 tons and poultry raised to 120,000 tons. The revised trade rules still need final approval from EU member states and allow for further national measures if quotas destabilize local markets.
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in parliament, Pashinyan is set for a third term as Prime Minister. But an opposition politican has said he will challenge the election results.
The results of Armenia’s parliamentary elections will determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone. Here's how it works.
A Sudanese man has been arrested over a knife attack in Belfast that left a man seriously injured and prompted calls online for a protest after footage of the incident circulated widely on social media.
Barcelona is preparing to mark a historic milestone in the legacy of architect Antoni Gaudí as Pope Leo XIV visits the city this week to inaugurate the Tower of Jesus Christ at the Sagrada Família basilica, almost exactly 100 years after the visionary architect’s death.
Iran and Israel have halted strikes on each other, but Tehran has warned it will recommence attacks if Israel continues military action in Lebanon. U.S. President Donald Trump and Lebanese President Joseph Aoun have meanwhile made pleas for peace.
Apple has unveiled a long-awaited upgrade to Siri, aiming to close the gap with technology rivals and emerging artificial intelligence firms in an increasingly competitive market.
ChatGPT maker OpenAI has confidentially filed for a U.S. initial public offering (IPO), the company said on Monday, joining rival Anthropic in a race to the stock market as investors seek exposure to the artificial intelligence boom.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
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