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Ukrainian government endorses trade sanctions against Russia

December 30, 2015, 18:10 UTC+3

Ukraine's prime minister earlier threatened with countermeasures and counter-steps for every action taken by Moscow

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© Maxim Nikitin/ITAR-TASS

KIEV, December 30. /TASS/. Ukrainian government has endorsed a range of decisions that come forward as trade restrictions against Russia, the Deputy Minister of Economic Development, Nalatya Mykolskaya, told reporters.

"The cabinet of ministers endorsed two resolutions today and thus supported the proposals made by the Ministry of Economic Development and Trade," she said.

Earlier on Wednesday, Prime Minister Arseniy Yatsenyuk said the Ukrainian government was about to adopt two resolutions concerning mirror-like actions in trade with Russia.

"The first resolution concerns a ban on the imports of commodities originating in the Russian Federation into the Ukrainian customs territory while the second specifies the import fees for the commodities imported from the Russian Federation," he said.

Yatsenyuk threatened with countermeasures and counter-steps for every action taken by Moscow.

"The appropriate resolutions will be published on the first day after Russia begins implementing restrictive measures on Ukrainian commodities," he said.

On December 24, Ukraine’s Verkhovna Rada passed a law on foreign economic activity that empowers the government to introduce economic sanctions against Russia. In part, the cabinet has received the right to ban or restrict foreign trade operations and to lift tariff privileges for the Russia-made commodities.

Yatsenyuk said earlier Kiev would be ready to enact mirror-like countermeasures as of January 1, 2016, if Russia embargoed the imports from Ukraine.

The Rada passed the law as a response to the Russian law on suspension of the treaty on a free trade zone in respect of Ukraine. It envisions the withdrawal of a preferential trade status from the Ukrainian commodities for the purpose of precluding the threats to Russia’s economic security in the wake of enactment on January 1, 2016, of the economic chapters of the EU-Ukraine Association Agreement.

On November 18, the Russian government passed a decision to impose an embargo on the Ukrainian commodities as a response to Kiev’s move to join the anti-Russian sanctions.

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