Government of Ukraine will react to any Russian decision on trade restrictions
with retaliatory sanctions. "The Government submits to the Parliament a
bill on changes to the law on foreign economic activities with a view to
provide the Cabinet of Ministers with legitimate and constitutional powers to
impose retaliatory economic sanctions against the Russian Federation and any
other country which is a country-aggressor or doesn’t fulfill its bilateral
obligations," emphasised Prime Minister of
Ukraine Arseniy Yatsenyuk
at the government meeting on Wednesday, December 2.
will allow the Government to impose immediately retaliatory sanctions following
Russia’s decision to use the relevant trade and economic sanctions", he
as always, are ready to dialogue, but it doesn’t mean a one-way dialogue,"
added Arseniy Yatsenyuk.
He noted that,
according to preliminary estimates, Ukrainian economy could have a loss up to
US$ 600 million after the imposition of Russia’s trade embargo.
Minister pointed out that Ukraine was ready to Russia’s trade restrictions.
According to statistics, for the first nine months of 2015, he noted, the main
trading partner of Ukraine was the European Union, "our trade with the EU
makes up 32.9%. Over the past three years we have managed to reduce three times
our dependence on the Russian market. Today, dependency on the Russian market
is only 12.8%."
Minister also announced that, on December 4, a government delegation would
leave for the World Trade Organization in order to hold talks. He reminded that
Ukraine had filed a dispute against Russia to the World Trade Organization concerning
illegal measures imposed by the Russian Federation on the importation of
Ukrainian railway equipment to the Russian Federation, "The examination of
the dispute has begun, the first technical consultations in the framework of the
dispute will be held at the World Trade Organization on December 4."