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Ukraine’s finance minister hopes to continue dialogue with Russia on debt in January 2016

December 30, 2015, 14:30 UTC+3 KIEV
Natalie Jaresko said she was not ready to tell further details
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Finance Minister of Ukraine Natalie Jaresko

Finance Minister of Ukraine Natalie Jaresko

© Maxim Nikitin/TASS

KIEV, December 30. /TASS/. Finance Minister of Ukraine Natalie Jaresko hopes that the dialogue between Kiev and Moscow on the debt of Ukraine for $3 billion will continue after the New Year holidays in January 2016, she said Wednesday at a press conference.

"We expect that we will continue our conversation, continue the dialogue in January after the holidays," she said.

Jaresko said she was not ready to tell further details.

For two years Russia and Ukraine have been in talks to find practical solutions to the questions posed the association of Ukraine with the EU. The economic part of the agreement includes a free trade zone regime from January 1, 2015, and covers issues such as market access, trading energy products, cooperation in agriculture, transport, metallurgy and so on. Russia believes that the zero rate of customs duties for the import of European goods to Ukraine will lead to their uncontrolled flow to the territory of the Russian Federation. This could worsen environment for Russian manufacturers.

The Russian side has prepared a package of documents if no compromise at talks is found. Russian President Vladimir Putin signed a decree on December 16 on suspension of a treaty for creating a free trade zone with Ukraine as of January 1, 2016 in view of exceptional circumstances affecting Russia’s interests and economic security and requiring the adoption of immediate measures. Additionally, in August the Russian government also adopted a resolution on introducing customs duties on Ukrainian goods from January 1, 2016.

At the big press conference on December 17, Putin noted that Russia did not intend to introduce any sanctions against Kiev, but in connection with the termination of the free trade zone agreement with Ukraine, this country will lose benefits and preferences. "We are just switching to the Most favored nation status," Putin said.

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