Russia To Ban All Food Imports From Ukraine
Russia has announced it will ban all food imports from Ukraine starting on January 1.
Russian Economy Minister Aleksei Ulyukayev told TV channel Rossia-24 on November 18 that Russia was taking the action "because Ukraine has joined the sanctions against the Russian Federation -- economic and financial."
Ukrainian Prime Minister Arseniy Yatsenyuk said the pending Russian action will cost Ukraine's economy some $600 million in 2016.
On the other hand, Yatsenyuk noted the Ukrainian economy was now less dependent on Russia. "While earlier our dependence was 35 percent, now it's at the level of 12.5 percent," Yatsenyuk said on November 18, according to a statement on his cabinet's website.
http://www.rferl.org/content/ukraine-russia-food-import-ban/27373599.html
Not much of a surprise given the trade sanctions in effect against Russia. It is noteworthy that even before this trade cutoff, Ukrainian trade with Russia has declined from 35% to 12.5% of its total.