Ukraine Extends Embargo on Russian Goods to Late 2017

The Cabinet of Ministers extended Ukrainian counter sanctions to the end of 2017 in response to Russia’s food embargo. This decision was made during the Government’s meeting on July 6.

On June 29, Russian President Putin extended a food embargo against countries that introduced anti-Russian sanctions to the end of 2017. Ukrainian goods have been subject to this embargo since January 1, 2016.

Ukraine countered this with banning the import of Russian food and nonfood items, the total of which equals the value of Ukrainian aggregate imports banned in Russia.

Russia introduced a food embargo against EU countries, the U.S., Canada, Australia, and Norway in August 2014, responding to sanctions imposed because of Russian aggression in Ukraine. Later on, the food embargo was applied to five more countries – Albania, Montenegro, Iceland, Liechtenstein and Ukraine.

Source: Ekonomichna Pravda