The European Union is preparing 100 million euros ($109.32 million) of compensation for farmers in countries bordering Ukraine and plans to introduce restrictions on imports of Ukrainian cereals, a European Commission spokesperson said on Wednesday.
Pressure has been mounting on Brussels to work out a European Union-wide solution after Warsaw and Budapest announced bans on some imports from Ukraine at the weekend. Other countries in Eastern Europe are also considering action.
The Commission, which oversees trade policy in the 27-nation European Union, will take what it described as "preventative measures" for specific categories of grain and oil seeds – mainly wheat, maize, sunflower seeds and rape seed.
Under EU rules, the European Union can limit the import of products into the whole or part of the bloc while still allowing transit.
European Trade Commissioner Valdis Dombrovskis is set to discuss the plans later on Wednesday with ministers from the affected countries – Bulgaria, Hungary, Poland, Romania and Slovakia – as well as with Ukrainian counterparts.
