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 Ukraine May Impose Targeted Sanctions Against Russian Companies

Ukraine is considering introduction of pinpoint sanctions against Russian companies, regardless of goods category.

According to Censor.NET citing Interfax-Ukraine, this was stated by Deputy Minister of Economic Development and Trade Roman Kachur at a briefing on Tuesday.

"According to the law on foreign economic activity, the Ministry can impose sanctions on individual companies, thereby completely prohibiting their economic activity in the territory of Ukraine or moving to individual licensing. That is the purpose of announcing the list," he said.

Read also: EU May Need to Increase Sanctions on Russia If Things Get Worse in Eastern Ukraine - Mogherini

Kachur stressed that the Ministry conducted its own in-depth analysis of each company and industry involved in the trade with the Russian Federation.

"We must understand that among them are multinational companies with global capital, where there are the interests of our partners. We will consider and act pinpointedly as much as we can in order not to create problems for Ukrainian companies," he said.

At that, Kachur stressed that sanctions should be effective and targeted "to really achieve the effect, and not to harm our own companies in the market."

Read also: Putin Clans Said Gridlocked Over Arrest as Sanctions Bite - Bloomberg

Earlier, in connection with the adoption of the decision by the Russian government on the introduction of fees in respect of certain products of Ukrainian origin the Ministry of Economic Development published its own list of goods for possible exemptions from the free trade regime of import from Russia to Ukraine.

The proposed changes affect 36 commodity groups, including food, household items, and railway locomotives. The Ministry clarified that the restrictions do not affect imports critical for Ukraine, particularly oil and gas.

 
 
 
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