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 Ukraine quits Russian FTA, raises duties, and introduces trade embargo, - PM Yatseniuk

Ukraine is resolute about quitting the free trade area with Russia, raising duties on all Russian goods, and introducing a trade embargo on the number of products made in the Russian Federation.

Prime Minister of Ukraine Arsenii Yatseniuk said in "10 minutes with PM" TV show, Censor.NET reports referring to government portal.

The prime minister reminded that Russia, as expected, had introduced a trade embargo against Ukraine and illegally withdrawn from the free trade area in connection with the entry into force of the EU-Ukraine Deep and Comprehensive Free Trade Area.

Read more: Cabinet reminds of import duties applied to Russian goods effective Jan. 2

"Our answer is the following. Ukraine quits the free trade area with Russia, raises duties on all Russian goods, and introduces a trade embargo on food products originating from the Russian Federation, as well as car and railway industry goods," Yatseniuk said and added: "These are mirror-imaged restrictions. We did not start this war. But the aggressor will be punished."

The prime minister emphasized that the EU-Ukraine DCFTA - "is precisely the agreement which millions of Ukrainians fought for on Maidan. This is a chance for the Ukrainian economy to become competitive, strong, and exemplary, a kind of economy which would attract investments from the European Union, create new jobs, trade freely with Europe, and allow the Ukrainian business to develop and move forward."

Read more: Free Trade Area agreement between Ukraine and EU comes into effect

The Free Trade Area agreement, according to Yatseniuk, first of all means duty free sales of Ukrainian goods to Europe and vice versa: "This is a rivalry, which is a challenge for domestic producers. But first of all, it is an opportunity for Ukrainian businesses to become stronger, more competitive and to conquer new markets."

Yatseniuk stressed that Russia "has been doing everything to ensure that Ukraine does not become part of the European area and return to its indigenous European family. The former regime refused to sign the DCFTA. And millions of Ukrainians took to the streets. And we won."

Read more: "No money for you, bastards," - Interior Minister Avakov on Russia's announcement of Ukraine's default
 
 
 
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