The Duma adopted the law on suspension of free trade with Ukraine

Moscow. December 22. The state Duma on Tuesday adopted initiated by the President the law on the suspension of the Treaty on free trade zone (FTZ) in respect of Ukraine.

The deputies voted for this decision immediately in the first reading in General. The adoption of the law was supported by all four factions of the state Duma.

On 16 December President Vladimir Putin signed a decree on suspension from 1 January 2016 the free trade with Ukraine “due to exceptional circumstances affecting the interests and economic security of the Russian Federation and require urgent measures”. From 1 January enter into force of the economic part of the Association Agreement between Ukraine and the EU.

“Tariff liberalization under the agreement (EU-Ukraine), will significantly damage the Russian economy. In addition, the obligations of Ukraine on trade and economic section of the agreement in conflict with Ukraine’s obligations named in the contract, which provides for, along with duty-free trade commitments on a range of multilateral and bilateral agreements within the CIS”, – emphasized in the explanatory note to the bill.

The head of the profile Committee of the state Duma on CIS Affairs Leonid Slutsky expressed hope that after some time, the Treaty on free trade area with Ukraine will be resumed. According to him, it could happen in the coming years.

Meanwhile, the MP noted that what is happening in Ukraine, in fact, threatens its territorial integrity. “Ukraine may cease to exist as a unified state”, – said Slutsky.