Translated material
The Government of Ukraine mirrored the embargo for the supply of Russian goods
The Government of Ukraine, in response to the extension of the food embargo by Russia, until the end of 2017 mirror the effect of Ukrainian counter -sanctions on the same period of time. It is reported by RBC-Ukraine.
The proposal of the Ministry of Economic Development and Trade of Ukraine on the extension of restrictive measures was supported at a government meeting.
On December 16, 2015, Vladimir Putin signed a decree on the suspension of the Free Trade Zone against Ukraine from January 1, 2016. The document said that this decision is explained by "exceptional circumstances affecting the interests and economic security of Russia." The list of countries in respect of which Russia introduced a food embargo, in addition to Ukraine, Albania, Montenegro, Iceland, Liechtenstein are also revealed.
On December 30, 2015, President of Ukraine Petro Poroshenko signed the law on amendments to the Law "On Foreign Economic Activities", according to which the government may "apply adequate measures of an economic nature to the aggressor state." "In the event that discriminatory or unfriendly actions regarding Ukraine are used by the state recognized by the Verkhovna Rada of Ukraine by the aggressor state or the state by the occupier, measures in response ... can be applied by decision of the Cabinet of Ministers of Ukraine," the document says.
On the same day, the Ukrainian government adopted decisions on customs duties and a ban on the import of Russian goods. The restriction relate to bakery, flour confectionery, chocolate sweets, meat, fish, coffee, black tea, baby food, filter cigarettes, beer, vodka and a number of other products.
On January 2, the response sanctions of Ukraine entered into force. Instead of a zero rate on Russian goods, preferential duties provided for by the country's customs tariff are set. The resolution may be canceled after the termination of the violation of Russia on the free trade zone. In addition, from January 10 to August 5, 2016, a ban was introduced for the import of a number of Russian goods into Ukraine. However, it can also be canceled in the event of the termination of the Russian embargo on the import of Ukrainian products.
On June 29, Putin extended the food embargo until the end of 2017.
On June 10, the report on the financial stability of the National Bank of Ukraine reported that due to new trade restrictions in Moscow, Ukrainian exports to Russia in 2016 may be reduced by 31 percent . According to the regulator, the damage from the Russian embargo will be $ 1.3 billion.