Ukraine joined the list of countries, against which Russia introduced embargo. December 21, Russian Premier Dmitry Medvedev signed respective decree. According to him, the product embargo on Ukrainian goods will come into force on January 1, 2016, rbc.ua reported.
"Since January 1, 2016, Ukraine will face retaliatory economic measures, due to this country's joining teh anti-Russian sanctions imposed by the EU and the USA", Medvedev said.
The Russian Premier added that since January next year, Russia will implement the most favored nation treatment in regard to Ukraine. “No exclusions. All sorts of trade preferences will be gone”, Medvedev said.
Previously, December 16, Russian President Vladmir Putin signed a decree on suspension of the Free Trade Area with Ukraine. The document stated that the decision is motivated by exceptional circumstances, regarding interests and economic security of Russia”. Thus, Ukraine is on the list along with Albania, Montenegro, Iceland, and Liechtenstein. Russian government made provision for special conditions of introduction of the embargo against Ukraine; it should have been activated in case Kyiv launches the Free Trade Area with the EU, which is to take place January 1, 2016.
Ukraine’s Prime Minister Arseniy Yatseniuk estimates Ukraine’s losses from Russian embargo as of USD 600 mln.