Saturday, January 2, 2016

The Cabinet of Ministers of Ukraine reveals time limits of trade sanctios against Russia

The Cabinet of Ministers of Ukraine issued two decrees on the measures in response to the suspension of the FTA agreement within the CIS towards Ukraine by the Russian Federation since January 1, 2016.

In particular, the decree on the rate of customs duty on goods originating from the Russian Federation stipulates that the preferential rates of import customs duty, provided for by the customs tariff of Ukraine concerning the import of goods originating from the Russian Federation, will be applied from January 2 until December 31, 2016.
The document expires on December 31, 2016, or after Russia stops violating the FTA agreement within the CIS.


As noted, the decision was made in order to protect the national economic interests and security of Ukraine, restore the violated rights, freedoms and legitimate interests of Ukrainian citizens, society and state, caused by the actions of the aggressor.

Another decree bans the import of the goods originating from the Russian Federation into the customs territory of Ukraine starting from January 10.

"This decision expires on August 5, 2016, or after lifting the ban on the import of agricultural goods, products and raw materials originating from Ukraine into the customs territory of the Russian Federation," the document says.



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