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Russian presidential adviser: Ukraine’s signing of AA with EU to lead to default

October 12, 2013, 20:28 UTC+3

“This will destroy trade relations with Russia,” Sergei Glazyev said

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Sergei Glazyev

Sergei Glazyev

© ITAR-TASS/Ruslan Shamukov

KRASNOYARSK, October 12 (Itar-Tass) - Ukraine will lose sovereignty in the trade and economic policy if it signs the Association Agreement with the EU, Russian presidential economic adviser Sergei Glazyev said.

In an interview with the Vesti v Subbotu with Sergei Brilyov news programme, Glazyev said there were several reasons proving that Ukraine was unable to take advantage if it signed the Association Agreement.

“This will destroy trade relations with Russia. Control will be toughened on our borders,” the economic adviser said.

“For Ukraine itself, the agreement will have political consequences. The AA implies that the country obliges to go in the wake of the European policy. But Ukraine has no right to influence this policy,” Glazyev said.

“The AA says Ukraine obliges to take part in the settlement of regional conflicts such as the Georgian conflict under the EU leadership,” the Russian economist said.

Commenting on visa-free formalities with the EU, Glazyev noted that the Association Agreement said nothing about this.

“I believe that Ukraine will be the EU colony while Brussels will dictate what Ukraine should do,” he added.

“If this happens, Ukraine delegates its sovereign rights in trade policy, technical and customs regulation. This is a suicide because in two year Ukraine’s machine-building should work under the EU standards while in 10 years the whole economy of Ukraine should work under the EU standards,” Glazyev said.

Ukrainian economists think that it will take 100 billion euro to carry out these tasks. “Where the money coming from?” the Russian economist said.

Russia is Ukraine’s key creditor. “None, besides Russia, provides loans to Ukraine. Ukraine can face the default and lose prospects for further development. This is crazy. But I hope that this won’t happen,” Glazyev said.

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