Russia’s Putin orders suspension of free commerce zone with Ukraine
Russia’s Putin orders suspension of free commerce zone with Ukraine
MOSCOW, Dec 16 (Reuters) – President Vladimir Putin on Wednesday ordered his authorities to droop Russia’s free commerce zone with Ukraine from Jan. 1, making good on Moscow’s threats to Kyiv which seeks nearer ties with the European Union.
Russia annexed Ukraine’s Crimean peninusula final yr and is accused by Kyiv of fomenting a bloody battle with pro-Moscow separatists within the east of the nation. It has staunchly opposed plans to launch an EU-Ukraine free commerce pact.
Senior Russian officers stated this month Moscow would in all probability should penalise Ukrainian imports and impose a non-preferential commerce regime if Kyiv’s deliberate free commerce pact with Europe went forward on Jan. 1.
Putin’s determination to droop a 2011 free commerce treaty with Ukraine was set out in a decree which cited “extraordinary circumstances affecting the pursuits and financial safety” of Russia.
The decree made no point out of how lengthy the free commerce regime can be suspended.
There was no instant response from Kyiv, the place the authorities have beforehand stated there will probably be no amendments to the free commerce settlement with the EU and it’ll come into drive on Jan. 1 no matter any motion by Russia.
Russia says the Ukraine-EU deal might result in a flood of European imports throughout its personal borders and injury the competitiveness of Russian exports to Ukraine. (Reporting by Vladimir Soldatkin; Further reporting by Alessandra Prentice in Kyiv; Writing by Dmitry Solovyov; Modifying by Andrew Osborn and Andrew Roche)
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