Kiev raised import duties for goods from Russia

Kiev raised import duties for goods from Russia

KIEV, January 2. The government of Ukraine increased import duties for goods from the Russian Federation. About it reported in a press-service of the Cabinet of Ministers of Ukraine.

“From 2 January 2016 to all goods originating in Russia shall apply the preferential rates of import duty established by customs tariff of Ukraine, preferential treatment of these countries (free trade) will be cancelled”, – stated in the message.

These measures are introduced for a period of one year.

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Earlier the President of Ukraine Petro Poroshenko has signed the law “On foreign economic activity”, which gives the government powers to apply economic sanctions against Russia.

The Ukrainian Parliament adopted the law on 24 December. In accordance with the document, the Cabinet of Ministers of Ukraine may take “additional measures” in case of “discriminatory or unfriendly actions on the part of the state, the Verkhovna Rada recognized as an aggressor”. In particular, the government will be in a position to impose “a ban on foreign trade restrictions, or limitations”, and also to cancel tariff preferences.

Rada adopted the document in response to the Russian law “On suspending the Russian Federation of the Treaty on the free trade zone against Ukraine”. The act provides for the suspension of preferential trade regime with Ukraine in order to prevent threats to the economic security of Russia in connection with the application from 1 January 2016 the trade and economic section of the Association agreement between Ukraine and the European Union.