This week in photos: Putin’s binoculars, Macron's hug and Berlin’s welcome for UK heirsSociety & Culture July 21, 17:43
Putin discloses his code name at intelligence schoolSociety & Culture July 21, 17:39
Putin says life, love and freedom are his core valuesSociety & Culture July 21, 17:06
Crimean border guards rescue drowning Ukrainian who swam from Ukraine to TurkeyWorld July 21, 16:59
Putin doesn't rule out running in 2018 presidential raceRussian Politics & Diplomacy July 21, 16:56
Russian Helicopters deliver Mi-171E convertible helicopter to PakistanMilitary & Defense July 21, 16:50
Putin confesses he doesn’t use social networksSociety & Culture July 21, 16:44
Siemens examining all Russian partners for compliance with export standardsBusiness & Economy July 21, 16:36
Kremlin spokesman calls sale of alleged Putin’s watch for 1 mln euro ‘successful trick’Society & Culture July 21, 16:29
BRUSSELS, June 20. /ITAR-TASS/. The European Commission is assessing legal consequences of Crimea’s secession from Ukraine and offers economic, trade and financial restrictions on Crimea with immediate effect, according to a draft roadmap of the EU-Ukraine association deal released on Friday.
In compensation, the EU offers Ukraine the most favored-nation treatment in trade, the creation of a free trade zone with a positive effect of €500 million a year from the removal of trade barriers and Ukraine’s participation in the European Neighborhood and Partnership Instrument (ENPI) program with a seven-year budget of €12 billion.
Ukrainian President Petro Poroshenko said on Thursday he would sign the economic part of the Association Agreement with the European Union on June 27.
In April, Ukraine signed the political part of the agreement with the EU, which makes up about 2% of the document. The remaining 98% deal with the creation of a free trade zone between the EU and Ukraine, which will basically mean that Ukraine will have to open up its market to European goods.
Ukrainian industrial products cannot compete on European markets: there is no demand for the defense industry’s products as EU countries are adopting NATO standards, while agricultural produce can hardly make their way to the saturated European market where even EU countries have to observe production quotas.