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Moody's downgrades Ukraine's ratings.

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Rating agency Moody's lowered Ukraine's long-term credit rating from Caa2 to Caa3 due to the risks of a protracted war with Russia and an increasing public debt burden over international financial support.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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The EU's new steel allocation, set to enter into force on July 1, was introduced in response to global steel overcapacity, which has been hurting EU producers. The measure aims to restrict tariff-free steel imports to 18.3 million metric tons per year, a 47% reduction.

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