Trade war with Russia: Ukraine has lost $98 billion

Торговые войны с РФ: Украина потеряла $98 млрд

Ukraine lost hundreds of billions of dollars because of the restrictions of Russia

Ukraine’s losses during the three years of restrictions on the part of Russia was estimated in hundred billions dollars.

Three years of trade restrictions by Russia, Ukraine has lost 98 billion dollars. This is stated in the trade policy review of the country published on the website of the Ministry of economy.


As follows from the document, the volume of trade with Russia, which was the largest economic partner of Ukraine, gradually declining from 24.3% of total trade in 2012 to 12.7% in 2015. Losses due to “illegal and discriminatory trade restrictions” have amounted to 98 billion dollars, says the review.

At the same time the share of Ukrainian exports to Europe increased from 22.3% in 2012 to 34.1% in 2015.

We will remind, on February 24, Ukraine issued a statement against Russia due to restrictions on Moscow on a number of trade issues, supported by Turkey, the US, EU and Canada.

Russia from January 1, imposed restrictions on the transit through its territory of goods from Ukraine to Kazakhstan.

Ukraine’s trade fell to a third

From 2016 the Russian Federation abolished the state of FTA in relation to Ukraine and imposed food embargo and the Ukrainian authorities in response have introduced mirror trade sanctions against Russia.