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Putin suspends treaty on free trade zone with Ukraine

The Russian president has signed the relevant decree in view of exceptional circumstances, which touch Russia’s interests and economic security and require the adoption of immediate measures

Russian President Vladimir Putin Alexei Nikolskiy/ITAR-TASS

Russian President Vladimir Putin

© Alexei Nikolskiy/ITAR-TASS

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MOSCOW, December 16 /TASS/. Russian President Vladimir Putin has signed a decree on suspension of a treaty for creating a free trade zone with Ukraine as of January 1, 2016 in view of exceptional circumstances, which touch Russia’s interests and economic security and require the adoption of immediate measures, the legal information portal, where the presidential decree has been posted, said.

Russian Prime Minister Dmitry Medvedev said in an interview with Russian television channels on December 9 that Russia should end the favourable treatment regime in trade with Ukraine, which is on the verge of gaining associated membership of the European Union, on January 1, 2016.

"They should understand that a period, which we have chosen specially for the purpose of further adjustment of our economies in order to bring the CIS free trade zone rules with the EU rules, will end on January 1. We — the Europeans, Ukraine and Russia — have reached a deal for ‘three’, so to speak," Medvedev said.

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