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Ukraine to lose $5 billion by yearend over dwindling trade with Russia — ministry

October 28, 2014, 12:50 UTC+3 KIEV

The current loss amounts to $3.5 billion, this primarily refers to losses in agriculture, the food industry and machine-building, says Ukrainian Finance Minister Oleksandr Shlapak

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KIEV, October 28. /TASS/. Ukraine will lose $5 billion by the end of this year due to declining trade with Russia, Ukrainian Finance Minister Oleksandr Shlapak said on Tuesday.

‘We’ve already lost about $3.5 billion and will lose $5 billion by the end of the year. This primarily refers to losses in agriculture, the food industry and machine-building,” Shlapak said at the first international conference entitled: A Fresh Look at Ukraine.

“These are our basic positions, which we exported to Russia. All that has remained in trade relations will continue to bind us,” the Ukrainian finance minister said.

Ukraine announced on October 6 that it might start charging duties on Russian vegetables, fruits, fish and dairy products, eggs, honey, coffee and tea, as well as sugar and confectionary.

Ukraine may also introduce duties on the imports of fertilizers, soap and cosmetics, matches, plastics, clothes and footwear, glass articles, furniture and electrical appliances, as well as Russian cars, passenger vehicles, agricultural machinery and railway equipment.


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