Australia extends tariff relief for Ukraine

Australia will extend tariff relief as part of its support for Ukraine and its people in response to Russia’s brutal full-scale invasion.

The announcement follows a meeting overnight between the Treasurer and his Ukrainian counterpart in Washington DC.

The Treasurer told Ukraine’s Finance Minister Sergii Marchenko that the tariff relief was a demonstration of Australia’s continued and unwavering support for Ukraine.

The duty exemption will be extended for two years until 3 July 2026 for goods that are produced and manufactured in Ukraine.

The tariff relief is one part of Australia’s package of defence, economic and humanitarian assistance to Ukraine. Australia’s overall support to Ukraine is valued at approximately $960 million, including $780 million in assistance for Ukraine’s Armed Forces.

The measure will see tariffs of up to 5 per cent reduced to zero on Ukrainian goods.

Australia is committed to supporting Ukraine’s economy and its continued participation in international trade as it deals with the ongoing, devastating effects of Russia’s invasion.

The Treasurer met Finance Minister Marchenko as part of a series of meetings with international counterparts for the G20 Finance Ministers’ and Central Bank Governors’ Meeting and the IMF – World Bank 2024 Spring Meetings.