Politician says Russia vs Mexico football game will be interesting to watchSport June 23, 21:11
Kyrgyz president sees revival of relations with Russia as major result of his tenureWorld June 23, 20:49
Ex-premier says initiative to impeach Poroshenko stems from Ukraine’s economy collapseWorld June 23, 20:20
This week in photos: Confederations Cup opening and summer solstice celebrationsSociety & Culture June 23, 19:11
Turkish ambassador to Russia: Moscow and Ankara to join efforts in war on terrorWorld June 23, 18:45
Ukraine’s finance ministry files appeal to London Court against Russia in $3 bln debt caseBusiness & Economy June 23, 18:42
Ukrainian society tired of Poroshenko’s policy — expertRussian Politics & Diplomacy June 23, 17:58
Deutsche Welle sees Russian international broadcasters as threat to European ideasWorld June 23, 17:34
Watchdog claims Telegram provides means of communication to terroristsBusiness & Economy June 23, 16:45
MOSCOW, June 21, /ITAR-TASS/. Ukraine may lose about $100 billion within a period from 2015 to 2018 if it severs cooperation ties with the Customs Union of Russia, Belarus and Kazakhstan after reorienting towards the European Union, the Committee of Civil Initiatives said in a report entitled “The Dead-end of the Struggle of Integration Drives in Europe.”
According to experts, the most vulnerable to losses might be Ukrainian exports to Russia and other Customs Union countries, with an estimated loss of $14.3-15.3 billion. dollars a year. Apart from that, this shock scenario would include deterioration in trade and economic relations between Ukraine and the Customs Union countries and a slump in cash proceeds from labour migration, where losses are estimated at seven to eight billion U.S. dollars a year.
Moreover, Ukraine will run a risk of having to buy Russian gas at higher prices [an annual loss of 2.2-3.7 billion U.S. dollars], a risk of being short of Russian investments to a sum of about $2 billion a year, a risk of Russians’ refraining from trips to Ukraine ($1.5-1.6 billion), and a risk of scaling down of cooperation between Russian and Ukrainian freight operators (an estimated loss of $0.4 billion)
Experts however say the most adverse effects of such shock scenario would be felt for about two first years - in 2015 and 2016, with subsequent normalization of relations in 2017 and 2018.