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Russia broke the free trade area agreement with Ukraine

Russia suspends the free trade area agreement with Ukraine from January 1, 2016
Russia broke the free trade area agreement with Ukraine

December 16, Russian President Vladimir Putin signed a decree on the suspension of the free trade area agreement with Ukraine, Joinfo.ua reports with reference to Russian media.

“Due to the exceptional circumstances affecting the interests and economic security of the Russian Federation and requiring immediate measures, the decree declares to suspend from January 1, 2016 the Agreement on free trade area, signed in St. Petersburg on 18 October 2011, in respect of Ukraine”, – said the document.

It should be recalled that the EU confirmed to Ukrainian authorities, that the free trade area with Ukraine will come into force from January 1, 2016.

Earlier, the European Union noted that the agreement on the FTA between Ukraine and the EU will start operating in 2016 without any changes, despite the fact that Russia has repeatedly asked the EU to delay implementation of an agreement with Ukraine.

The EU and Ukraine signed the agreement on the Free and Comprehensive Free Trade Area on 27 June 2014 as part of their broader Association Agreement.