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Ukrainian economy will require subsidies, country risks to become "EU semi-colony" — Putin

According to the Russian president, Ukraine will not be able to restore some critical industries by joining the EU

ST. PETERSBURG, June 17. /TASS/. The structure of the Ukrainian economy will require very large subsidies, and if the country's domestic market is not protected, it will turn into a "semi-colony" of the European Union, Russian President Vladimir Putin said speaking at the St. Petersburg International Economic Forum (SPIEF) on Friday.

"The structure of the Ukrainian economy is that it will require very large subsidies, but if the domestic market is not protected, Ukraine will finally turn into such a semi-colony, in my opinion," the head of the Russian state said.

According to him, Ukraine will not be able to restore some critical industries by joining the EU, and European countries will not create competitors for themselves.

"[Ukraine] will receive significant support for current expenses. It is unlikely that this will lead to the restoration of the lost aircraft industry, shipbuilding, the electronics industry and other critical industries. It is unlikely because the European "greats" will not create competitors for themselves," Putin said.

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