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Ukraine estimates potential losses of Russia’s food embargo at $600 mln in 2016

November 18, 2015, 16:54 UTC+3
Russia has decided to introduce food embargo against Ukraine from January 1, 2016
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Ukraine’s Prime Minister Arseniy Yatsenyuk

Ukraine’s Prime Minister Arseniy Yatsenyuk

© Maxim Nikitin/TASS

KIEV, November 18. /TASS/. Ukraine estimates potential losses of Russia’s food embargo at $600 mln in 2016, Ukraine’s Prime Minister Arseniy Yatsenyuk said on Wednesday.

"We are preparing for Russia’s introduction of trade restrictions against Ukraine. Ukraine performed its assessment of potential losses from embargo, at least for 2016. We will lose about $600 mln of export to Russia," he said.

Ukraine’s dependence on Russia declined threefold, Yatsenyuk said at the same time. "If our dependence was 35% earlier, it is at the level of 12.5% now," he added.

Russian Minister of Economic Development Alexey Ulyukayev said earlier on Wednesday that the Russian Government decided to introduce food embargo against Ukraine from January 1, 2016.

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