12 Jul, 2022

The EU continues to support Ukraine and Moldova with new financial measures

The European Parliament adopted two important texts on 7 June to help both Ukraine and Moldova while Russia continues its aggression against Ukraine. The Renew Europe Group warmly welcomed the large majority for these measures, which will provide further urgent and very much needed macro-financial assistance (MFA) of €1 billion to Ukraine and temporary trade liberalisation measures for Moldova.

The suffering that Russia is causing to Ukraine is unspeakable while the loss of life and the number of displaced people continue to grow. Ukraine has also lost several and critical infrastructures that have been devastated by Russian bombs. This macro-financial assistance of €1 billion to Ukraine will help the country to ensure its own macro-financial stabilisation, strengthen its resilience and keep the functioning of the most critical infrastructures and functions running. Renew Europe stands with Ukraine and has supported all political, economic, defence, and humanitarian actions.

Urmas Paet MEP, Renew Europe’s standing shadow rapporteur on Ukraine and Moldova in the Committee on International Trade, declared: “Russia’s aggression is having a horrifying toll on Ukraine. In addition to the human suffering, the war has caused a lot of damage to Ukraine’s infrastructure and all areas of life. The EU must help in every way possible. This exceptional macro-financial assistance is crucial and timely in order to improve the economic and social stability of Ukraine.”

Renew Europe strongly believes that the EU should help Moldova at different levels, as the country is heavily impacted by this dramatic situation caused by Russia. Indeed, Moldova has lost its main markets and transit hub for key agricultural products. The EU will therefore allow temporary trade liberalisation measures in the form of additional tariff-free quotas on some agricultural products for one year.

“The Russian aggression against Ukraine has negatively impacted Moldova and its capability to trade. That is why it is of essence for the EU to support Moldova during this difficult time by introducing temporary trade-liberalisation measures. A swift approval of these measures is essential, as it enables Moldova to utilise this late summer harvest season of its two main export products - table grapes and plums”, added Paet.

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