Ukraine introduces trade sanctions against Russia

Ukraine introduces trade sanctions against Russia

Ukraine is introducing trade measures in response to Russia's decision to suspend the free trade area with Ukraine within the CIS framework and introduce an embargo on products from Ukraine.

The Verkhovna Rada adopted a law that allows the government to impose trade restrictions on the Russian Federation. After the signing of the law by the president, the government, at its meeting on December 30, adopted two resolutions, which are a mirror response to Moscow's decision to impose an embargo and suspension of the free trade area (FTA) within the framework of the CIS.

According to the Prime Minister of Ukraine, Arseniy Yatsenyuk, the first decision concerns the prohibition on imports of goods from Russia to the customs territory of Ukraine, the second decision concerns the rates of import duty on goods from Russia.

In her turn, the trade representative of Ukraine, Natalia Mykolskiy, stressed that the two resolutions, approved by the Cabinet of Ministers, state that if Russia will not apply trade restrictions, then Kiev will not apply its restrictions.

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