Kyiv imposes counter sanctions to balance trade policy with Russia - Pavlenko

The press service of the Ministry of Agrarian Policy and Food of Ukraine reports citing minister Oleksiy Pavlenko.

"Minister of Agrarian Policy and Food of Ukraine Oleksiy Pavlenko commented on passing of two resolutions by Ukraine government to ban imports of goods from the Russian Federation and on customs duties levied on goods from that country. According to him, imposing of counter sanctions will allow Ukraine to balance its bilateral trade policy," a statement said.

In particular, Pavlenko noted the volume of agricultural Kyiv exports, which Russia is going to ban, totaled $116.4 million or 1 percent of the total exports of agricultural products recorded through 10 months in 2015.

Meanwhile, the total amount of the agricultural imports to Ukraine from Russia, which fall within the ban list, amounted to $118.8 million through 10 months of this year.

"Thus Ukraine compensates for exports losses at the expense of imports restrictions," Pavlenko said.