EU set to impose much higher tariffs on imports from Ukraine, FT reports

May 14 (Reuters) - The EU is preparing to apply much higher tariffs on imports from Ukraine within weeks, hitting Kyiv's economy at a crucial time in its fight against Russian aggression, the Financial Times reported on Wednesday, citing diplomats.

The proposal, recently sent to EU member states, would drastically cut the tariff free quotas of agricultural products — a lifeline for Ukraine's farmers and budget, FT said.