The Council of the European Union has extended its trade liberalization measures for Ukrainian iron and steel products for another three years, in a move aimed at supporting Ukraine's economy amid ongoing Russian aggression. The Council said this in a statement published on its website. "The Council has adopted today a regulation to extend the suspension of EU safeguard measures on iron and steel, in support of Ukraine's economy amid Russia's war of aggression. The aim is to ease the challenges faced by Ukraine's producers and exporters as a result of the war," the statement reads. However, the European Commission will be able to adopt an implementing act to suspend this regulation for specific products for up to 12 months. The suspension would be decided in case imports of those products from Ukraine increase to a level that significantly harms or threatens to harm to the Union industry producing similar or directly competing products.