Russia Suspends Free Trade Zone with Ukraine

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Kiev wanted to be ‘independent’. It got it.

Russia Suspends Free Trade Zone with Ukraine

Pavel Kazachkov / Flickr

President Vladimir Putin has signed a decree suspending an agreement for a free trade zone between Russia and Ukraine beginning Jan.1.

Ukraine has benefited from the free trade with Russia since 2011, when it became a member of the of the Commonwealth of Independent States (CIS) free trade pact.

According to the decree, the pact’s suspension was triggered by “exceptional circumstances affecting the interests and economic security of Russia and requiring immediate action” .

We remember, the agreement between Ukraine and the European Union on free trade zone enters into force on Jan.1, 2016 .

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