The MAYOR: the Russian embargo against Ukraine minimum impact on inflation

The MAYOR: the Russian embargo against Ukraine minimum impact on inflation


The flow of agricultural products from Ukraine to Russia is not great, so “inflationary contribution” from the embargo on Ukrainian products will be minimal, said first Deputy Minister of economic development of Russia Alexei Likhachev.

MOSCOW, 30 Dec. With effect from 1 January predamage in Ukraine is minimal impact on inflation in Russia, said first Deputy Minister of economic development of Russia Alexei Likhachev.

“A very small flow of agricultural products group from Ukraine. This is a very small figure in the size of our market… So actually the inflation contribution from the embargo on Ukrainian agricultural products, in our opinion, will be minimal”, — said Likhachev in an interview to TV channel “Russia 24”.

Russia from 1 January to protect its market for Ukraine introduces customs duties and food embargo, similar to that which acts against the countries that supported anti-Russian sanctions. In addition, Russia suspends Ukraine to the Treaty on the CIS free trade zone.