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Ukraine extends food embargo against Russia until 2018

On July 6, Ukrainian Cabinet has extended its food embargo on Russian goods for six months, until December 31, 2017, in response to a new wave of restrictive measures earlier imposed by Russia.
Ukraine extends food embargo against Russia until 2018

“A draft resolution has been submitted that proposes to extend until December 31, 2017, inclusive, the ban on supplies to the Ukrainian customs territory of Russian goods, the list of which was approved by the Cabinet of Ministers by its Resolution dated December 30, 2015,” Ukraine’s Economy Minister Stepan Kubiv stated when presenting the resolution, UNIAN reports.

Earlier Russia extended until December 31, 2017 the food embargo against Ukrainian goods imposed in response to Western sanctions. Russia introduced its restrictive measures in the aftermath of the entry into force of the Association Agreement between Ukraine and the European Union on January 1, 2016.

In December 2015, the Russian authorities took a number of decisions that restricted or completely banned trade relations with Ukraine in some economic segments. Thus, the Russian president signed a decree on the suspension of a free trade deal with Ukraine, effective from January 1, 2016. In addition, Russia imposed an embargo on exports of Ukrainian food products and some industrial goods.

Ukraine responded with retaliatory measures having introduced import duties on a wide range of Russian goods and commodity groups at rates varying in the range of 1.5%-19% with a transition period of three-five years.