Russian Federation to ban Ukraine food imports
Moscow has said it will present a blanket ban on nourishment supplies from Ukraine if Kyiv proceeds with the arrangement, and Russia’s Economy Minister Alexei Ulyukayev asserted.
EU Trade Commissioner Cecilia Malmstroem last week said the free-trade zone, once implemented, would “send a powerful signal that the regulatory environment in Ukraine is modern and efficient”, the BBC reports, noting that attempts at economic reform have been stymied by pervasive corruption and cronyism.
“It will be speculation and with ours and their party, we are prepared for all possible”, – said earlier the head of the Ukrainian Ministry of Finance.
Moscow lent Ukraine$3 billion under the country’s previous, pro-Moscow president in 2013.
Ukraine believes the losses will amount to $ 600 million in 2016.
But Yatsenyuk scoffed at the Russian president’s suggestion that his offer was more generous than Kyiv’s restructuring plan – which along with the 20 percent write-down and a four-year extension includes raising average interest payments to 7.75 percent on the new bonds, according to Bloomberg.
Yatsenyuk threatened a moratorium on repaying the debt to Russian Federation on November 13 – just days before Putin came out with his new proposal.
“We are more than others interested in not letting this issue stay on the conflict stage in resolving it and moving to its settlement for many reasons”, she said.
But the Ukrainian authorities put on a fearless face, saying that over the past few years Ukraine has significantly cut its dependence on Russian markets.
“There has been – and not since today, I’m afraid – a short-term instinct to seek any good excuse to back down on the appropriate and proportional response to Russia’s aggression in Ukraine“, said Konrad Szymanski, Poland’s deputy foreign minister, according to Reuters.
Lipton said the authorities in Ukraine recognise that strong policies and reforms and their “resolute implementation” is crucial to restoring confidence and growth, bringing down inflation and external deficits and replenishing global reserves.
Yanukovych backed out of the planned agreement with the European Union, prompting pro-Western Ukrainians to take to the streets in massive protests that forced Yanukovych from power in February 2014.