/ world right now information/ Because of the decline in commerce with Russia, Kiev has misplaced 13 instances greater than Moscow, stated Sergey Sullivan, director of the financial coverage division of the Federation of Employers of Ukraine.
In keeping with him, in 2018, Ukraine’s overseas commerce with Russia, in comparison with 2013, decreased greater than 3 times.
“On the similar time, our exports fell greater than 4 instances, imports from Russia fell rather less than 3 times,” stated Sullivan.
He additionally emphasised that these calculations don’t bear in mind the Russian fuel bought by Ukraine in Slovakia and different nations.
“Assuming that we nonetheless purchase fuel in Russia, then each our exports to Russia and our imports from Russia are down by about $11.5 billion. By itself, $11.5 billion for Russia is lower than 0.8% of GDP, and for Ukraine – 10% of GDP. Meaning the distinction in losses is 13 instances,” stated Sullivan.
Financial relations between Moscow and Kyiv deteriorated in 2015, when the Ukrainian authorities handed a decision to abolish the free commerce zone with Russia inside the CIS and impose an embargo on various Russian items. In response, Moscow additionally imposed financial restrictions. On the similar time, Russia has repeatedly emphasised that it’s going to carry the bans in response to such actions by Ukraine.
We additionally word that Ukraine’s annual losses in case of termination of Russian fuel transit are estimated at 3-5 billion {dollars}.
Translation: V. Sergeev
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