Kiev has canceled the free trade regime with Russia before the end of 2016

Signed a decree to Yatsenyuk

Prime Minister of Ukraine Arseniy Yatsenyuk signed a decree, according to which from today until the end of 2016 suspended mode free trade zone with Russia, ie Russian goods will now be exempt from customs duties.

The decision of the prime minister - the Russian answer to the sanctions against Ukraine in December last year, Russian President Vladimir Putin signed a decree suspending from 1 January 2016 the agreement on free trade area (FTA) with Ukraine. This was done after “exceptional circumstances affecting the interests and economic security of the Russian Federation.” The Russian authorities had feared an influx after January 1, duty-free goods from the EU through the Ukrainian border.

Now the Ukrainian authorities also suspended the free trade zone regime, and all imported to Ukraine Russian goods will be subject to customs duties.

The leader of public movement “Ukrainian choice” Viktor Medvedchuk evaluates the possible losses in the billions of dollars. Experts expect at least $ 35 billion loss. Prime Minister Arseniy Yatsenyuk estimated losses from the Russian prodembargo of $ 600 million.

2 January 2016

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