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Russia introduces most favored nations regime, counter-sanctions against Ukraine from 2016

December 21, 2015, 14:23 UTC+3 GORKI
Starting from January 1, 2016 economic counter-measures will be imposed against Ukraine due to its joining anti-Russia sanctions imposed by the European Union and the US
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Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev

© Dmitry Astakhov/Russian Government Press Office/TASS

GORKI, December 21. /TASS/. Russian Prime Minister Dmitry Medvedev said he had signed a decree on introduction of a most favored nation regime for Ukraine instead of a free trade zone agreement as well as on imposition of counter-sanctions against Kiev starting from January 1, 2016.

"Starting from January 1, 2016 entry charges stipulated by the European Economic Union’s common customs tariff will be applied to Ukraine, which means the regime of most favored nation treatment without any exceptions will be applied to Ukraine. All preferential advantages will be a thing of the past and no benefits will be in place," Medvedev said at a meeting with his deputies.

The prime minister added that "starting from January 1, 2016 economic counter-measures will be imposed against Ukraine due to its joining anti-Russia sanctions imposed by the European Union and the US." "I just signed a relevant government decree," he said.

According to Medvedev, earlier Russian President [Vladimir Putin] signed a decree on suspension of validity of the agreement on free trade zone regarding Ukraine, which stipulated duty free import of all Ukrainian goods to the Russian Federation, excluding sugar.

"Now the situation is a thing of the past. The decision was made as Ukraine said that starting from 2016 it will be implementing the economic part of the agreement on its association with the EU. Amid this environment we have to protect our market and our producers and prevent import of goods from other countries posing as those from Ukraine," he said.

"We’ve repeatedly said to Ukraine’s authorities that implementation of the economic part of the association with the EU affects our interests and creates risk of economic instability for our country. Several rounds of talks have been held in vain as neither Ukraine nor the European Union are ready to sign the legally binding agreement, which would take into account the interests of the Russian Federation," Medvedev said.

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