Ukraine ‘confident’ of success in Russian debt lawsuit
“Our response is as follows”. Among the food items included on the ban are meat, vegetables, fish, fruit, dairy and alcohol.
The pact, which is part of a wide-ranging Association Agreement with the European Union, aims to see the lifting of import tariffs by Ukraine and Europe to create a single free trade zone.
Officials consider visa liberalization to be one of the first steps of the the return of Crimea strategy, as the Russian annexation of Crimea in March 2014 is one of the most tense issues in world politics.
Commissioner Malmström welcomed the DCFTA’s entering into force by expressing her confidence in the future prospects for Ukraine: “The entry into force of this trade area on 1 January 2016 creates unique opportunities for Ukraine to stabilize, diversify and develop its economy to the benefit of all its citizens”.
On December 16, Russian President Vladimir Putin signed a decree suspending Russia’s implementation of the Commonwealth of Independent States free trade deal with Ukraine, effective since the beginning of 2016.
The ban is expected to come into force on January 10, according to a decree signed by Ukrainian Prime Minister Arseniy Yatsenyuk.
“The Economic Development and Trade Ministry jointly with the National Bank of Ukraine (NBU) have drawn up a forecast on the development of the Ukrainian market after the Ukraine-EU DCFTA takes effect”.
The EU says that its trade agreement with Ukraine should allow more Ukrainian products to be sold in the West. The EU said it will also help Ukraine’s fight against corruption.
“The Ministry of Finance of Ukraine takes note of the apparent decision by the Russian Federation to initiate legal action against Ukraine”, the ministry said in a statement.
Ukraine reached a deal in October to reduce what it owes to foreign creditors but Russian Federation refused to participate in the agreement.