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Politician warns Ukraine will face huge losses, job cuts due to ban on exports to Russia

The leader of the Ukrainian Choice public movement criticised the policy directed towards the European market

Kiev, Ukraine AP Photo/Sergei Chuzavkov

Kiev, Ukraine

© AP Photo/Sergei Chuzavkov

KIEV, November 27. /TASS/. A ban on exports to Russia will result in losses of billions of dollars and tens of thousands of unemployed Ukrainians, the leader of the Ukrainian Choice public movement said on Friday.

Read also

Kiev warns of food embargo against Russia in case Moscow introduces its sanctions

"Given Russia closed Ukrainian imports, it would lead to losses amounting to billions of dollars (experts estimate as $3-5bln) and tens of thousands of unemployed Ukrainians," Viktor Medvedchuk said. "Even though, the unemployment rate in Ukraine is going through the roof."

The politician pointed out that the expected $600 million losses caused by the Russian food embargo Ukrainian Prime Minister Arseniy Yatsenyuk was earlier speaking about could be indirect and incomplete financial losses derived from the export decline.

Read also

EU won't compensate Ukraine for losing Russian market from January 1 — EU commissioner

Besides, Medvedchuk criticised the policy directed towards the European market the government had opted for, dubbing it as "mockery." As earlier EU trade commissioner Cecilia Malmstrom said that the European Union considered neither more increases within quotas or providing any other quotas to Ukraine.

"We have to admit that the country will hardly ever be given access to the EU markets, in particular for a group of goods earlier supplied to Russia," he said. "In other regions of the world, no-one is waiting for Ukrainian vegetables and pork, either."

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Ukraine crisis Sanctions vs. Russia

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