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Friday, October 28, 2016

Ukraine is experiencing an economic shock: Poroshenko has estimated losses from the Russian embargo

Ukraine’s losses from Russia’s sanctions amounted to about $ 15 billion, estimated by President Petro Poroshenko. According to him, the closure of Russia’s market Square has become a real “economic shock”.

Petro Poroshenko has estimated losses during a speech in the Verkhovna Rada with the annual message. “Economic aggression” of Russia, stated the President was one of the reasons for the rapid fall in living standards in Ukraine, reports 112.ua.

According to him, the closure of the Russian market cost Kiev at least 15 billion dollars. “We lost dozens, if not hundreds of thousands of jobs,” — said Poroshenko.

In recent years the volume of Ukrainian exports to Russia has decreased five times. “Russia’s share in Ukrainian export is, as I said, only 9%, with a tendency to further decline,” — said the politician.

But, said the President of Square, Ukraine has managed to reduce its dependence on Russian market “where the ball is not ruled by the laws of Economics, and political blackmail and Imperial pressure”.

In a speech before the deputies, Poroshenko said that poverty and financial problems of the Ukrainians are on his heart “heavy stone”. However, according to him, Ukrainian authorities were forced to take drastic and unpopular reforms, particularly in the tariff area, to avoid default.

Moscow imposed the food embargo against Kiev in early 2016. Under the ban came deliveries of meat, milk, sausages, fish and seafood, vegetables and fruits. The application of sanctions due to the fact that Ukraine joined the free trade area with the EU.

Read the story: Poroshenko said about the analogue of the amendment of Jackson-Vanik against Russia

Sanctions . Chronicle of events

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