Poroshenko has estimated the losses of Ukraine from the closure of the Russian market of $15 billion

The closure of the Russian market for Ukrainian goods was an act of “economic aggression” of Russia against Ukraine and one of the reasons for the rapid decline in living standards, he said, speaking with a message to the Verkhovna Rada, President of Ukraine Petro Poroshenko. According to him, Ukraine’s losses from the closure of the Russian market amounted to about $15 billion.

“We need to understand that aggressive closure of the Russian market became for Ukraine an economic shock, and it cost us, according to some estimates, at least $15 billion, We have lost tens if not hundreds of thousands of jobs. And this economic aggression is one of the main reasons for the rapid decline in living standards”, — said Poroshenko (quoted by 112.ua).

In December 2015, first Deputy economic development Minister of Russia Alexei Likhachev estimated total losses of Ukrainian businesses from the loss of the Russian market approximately in the same $15 billion.

In the fat year our mutual trade is was 2011 the volume of supplies from Ukraine to Russia reached $20 billion this year, according to our forecasts, it will fall to $5.5 billion — thus the multiple, at times, reduced supplies from Ukraine to Russia has already taken place”, — said Likhachev, speaking in the Duma.

In a speech before the deputies of the Verkhovna Rada, Poroshenko said that poverty and financial problems the vast majority of Ukrainians lie in his heart “heavy stone”. However, according to him, the Ukrainian authorities in this situation did everything they could.

“I don’t know of examples and history, when the country in whose territory the fighting is going on, flourished economy. We did everything we could to avoid default, to ensure macroeconomic stabilization, to keep a critical minimum of social guarantees, and in cooperation with international financial institutions, had to go to tough and unpopular reforms, particularly in the tariff area,” — said Poroshenko.

The President warned that Ukraine is ahead will have many challenges, but expressed confidence that in the end “all is well”.

On 24 August 2016 at the parade on the occasion of the 25th anniversary of independence of Ukraine, Poroshenko said that although Moscow and “trying to stifle” Kiev market close and lock the transit of Ukrainian goods, but the Association agreement with the EU gradually offset all of the “huge losses” caused by the Ukraine war and economic aggression of Russia.

December 16, 2015, President Vladimir Putin signed a decree suspending from January 1, 2016, of the agreement on free trade zone in Ukraine. The document notes that the decision was taken due to “exceptional circumstances affecting the interests and economic safety of Russia”.

Prime Minister Dmitry Medvedev explained to the imposition of duties by the need to protect the Russian market and domestic producers from imports under the guise of Ukrainian goods from other countries.

In addition, from 1 January 2016 to Ukraine subject to a food embargo used by Russia as counter-sanctions against the countries that joined the anti-Russian sanctions the EU and the USA. At the end of June 2016 the validity of the embargo was extended to 31 December 2017.

In turn, the Ukrainian authorities have denied entry to Ukraine a number of Russian goods, including beef, pork and poultry, fish, vodka, beer, filter cigarettes, confectionery, baby food, food for cats and dogs, as well as a number of other products. Restrictions also apply to the importation of insecticides and herbicides Russian-made locomotives and equipment for Railways and also some other goods.