Russia to slap food import ban on Ukraine from 2016

MOSCOW, Nov 18 (PRIME) -- The Russian government will impose a food import ban on Ukraine from January 1, 2016 as Kiev joined Western sanctions against Russia, Rossiya 24 television channel reported Wednesday quoting Economic Development Minister Alexei Ulyukayev as saying.

The measure will also help Russia protect its market from banned food imports from the E.U. “We have no reason to keep a zero customs duty with Ukraine in this situation,” he said.

Besides joining the sanctions, Ukraine has also agreed on a free-trade zone with the E.U., which may be fully launched from January 1, 2016. Russia was worried about the risks it poses to its economy because of the CIS countries’ trade rules, and repeatedly said it may take action to protect its market from a flood of cheap E.U. goods.

Kiev may lose up to U.S. $600 million of exports in 2016 if the ban is imposed, the country’s Prime Minister Arseny Yatsenyk said.

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