Ukrainian embargo on Russian imports is coming into force today

On January 10, 2016, Ukrainian embargo on Russian imports is coming into force. On December 29, 2016, the president of Ukraine Petro Poroshenko signed the law on the embargo on Russian imports, introduced as a response of Russia’s embargo on Ukrainian imports from January 1, 2016.

The embargo list includes over 30 positions, such as meat, fish, cereals, grains, baked goods, vodka, beer, cigarettes, confectionery, feed, chemicals and a number of railway equipment.

As the Ministry of Economic Development and Trade of Ukraine noted, these steps will be taken to protect the economic interests and security of Ukraine.

Also, on January 1, 2016, the Agreement on the Free and Comprehensive Free Trade Area between the EU and Ukraine came into force. On December 16, Russian President Vladimir Putin signed a decree on the suspension of the free trade area agreement with Ukraine. Such strict trade measures were announced by the Russian Federation in response to the desire of Ukraine not to postpone the introduction of the FTA.