Russia bans Ukrainian goods in “tit for tat” economic measures between the two countries according to TASS.
Russia has announced a ban on the importation of produce including sunflower oil, wheat, sweets, vegetables, fruits, beer, tractors, paper, turbines, furniture, and other goods from Ukraine.
“This is a tit-for-tat measure against sanction restrictions on the part of Ukraine,” said Prime Minister Dmitry Medvedev.
The document titled “On the ban on the import into Russia of goods produced in Ukraine or transported through its territory” lists an array of goods produced in Ukraine stating “The Russian government may decide to abolish the special economic measures that are introduced if Ukraine abolishes restrictive measures imposed earlier on specific Russian goods.”
The decree affords Russia flexibility in the ongoing dispute as it states the ability to abolish the new measures. The degree of flexibility show political willingness for Russia to back down from its position with regards Ukraine.
The list of over 50 products is set out in the Cabinet Decree which is posted on the official website of the government.
The ban also targets chocolate, ethyl alcohol, fruit juices, caviar, fish and canned fish, bread and bakery, equipment for processing of agricultural products, engines and power generators, tractors, gearboxes and variable speed drives, transformers, cables and wires, chipboard, children’s and feminine care products as well as other goods.
Russia can decide on canceling these special economic measures if Ukraine abandons restrictions introduced earlier against specific Russian goods.
On December 18, the Ukrainian government extended the previous sanctions and embargos on the import of Russian foods by 2020. The list contains over 30 products, including bread, bakery, chocolate sweets, meat, fish, coffee, black tea, infant food, filter-tipped cigarettes, beer, vodka, and certain other goods. The ban also includes railway equipment: locomotives, railcars, trains and switch throwers.
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Danny Deegan is the Editor and proprietor of eurasianmarket.com. Born in the UK, currently working in financial services with an emphasis on equity investments and forex trading.