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Ukraine lost billion dollars due to Russia’s trade aggression
09:54, 2 March 2017
Ukraine lost billion dollars due to Russia’s trade aggression

The largest financial losses have affected exports to Kyrgyzstan and Kazakhstan,- Deputy Minister of Economic Development and Trade of Ukraine

09:54, 2 March 2017

Unian

Direct financial losses of Ukraine due to Russia’s trading aggression amounted to about a billion dollars. This was reported by the Deputy Minister of Economic Development and Trade of Ukraine Nataliya Mykolska, reports Dzerkalo Tyzhnia.

The largest financial losses have affected exports to Kyrgyzstan and Kazakhstan, - over 40% of export stopped, according to her.

"But other countries were also influenced. To sum up, we will get an amount of about one billion dollars of direct losses. Pay attention that it’s direct losses, it means losses only from the sale of products. But we are also losing at the market of related services, in the sector of transport and logistics, " Mykolska said.

Russia’s trading aggression has several purposes at the same time, she said.

Related: Russia threatens retaliation if Donbas trade embargo continues

"The first one is to limit the flow of foreign exchange earnings in Ukraine, making us financially weaker. Second is to squeeze out Ukrainian products from the markets of these countries, replacing them with Russian product. The third goal is to make it clear to the transnational corporations that have manufacturing both in Ukraine and in Russia that they should leave Ukraine and develop production on the territory that can provide them access to the market.

Earlier it was reported that Russia is surprised with "unwillingness" of Kyiv to stop trade blockade with Donbas. Peskov critisized Kyiv for its "unwillingness to get rid of this blockade".

Related: Voice for all: Two sides of Donbas trade blockade

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