Russia’s decision to impose a food embargo against Ukraine cannot be regarded as a final one it will come into effect only, if the parties fail to agree on eliminating of economic risks for Russia in case of Ukraine’s Association with the EU, Economic Development Minister Alexey Ulyukayev told reporters.
"This decision was made as a side-step decision. Both decisions - on possible introduction of regime of most favored nation treatment and on food embargo were taken as deferred decisions. If certain decision are not made until January 1, one of these decision will come into force automatically," he said.
The Russian government has decided to impose food embargo against Ukraine starting from January 1. The decision was announced yesterday by the Russian economic development minister. Alexey Ulyukayev said that in case it was imposed, the food embargo against Ukraine would be similar to that applied to the EU countries. According to the official, potential damage for the economy may reach around $1.5 bln per year. Ukraine’s Prime Minister Arseniy Yatsenyuk however said Ukraine estimates potential losses of Russia’s food embargo in 2016 at $600 mln.
In mid-August of 2015 Russian Prime Minister Dmitry Medvedev said that in case Kiev accepted the economic part of the agreement on its association with the European Union supplies of agricultural products from the country to Russia would be banned. Back then Medvedev noted that Moscow gave time to Kiev to solve issues related to economic regulation till January 1, 2016.
First published by TASS.
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