Ukraine losses $1bln because of Russia’s trade restrictions

Deputy Economy Minister and trade representative of Ukraine Nataliya Mykolska claimed that economic losses of Ukraine made up $1bln this year because of trade restrictions from Russia.

According to her, losses because of limited transit via our country to Kazakhstan and Kyrgyzstan will make up about $0.4bln given preliminary calculations, while the GDP losses will make up 0.3%'.

Mykolska explained that for the first 5 months this year Ukrainian export to Russia decreased more than three times, i.e. 36.2% against the same period last year. While export to Kazakhstan dropped almost two times, i.e. 46.2% or $136.4m.

Nataliya Mykolska specified that the case is not only about direct losses - reduction of export volume. The losses will backfire on the Ukrainian shippers, logistic sphere and package printing. As Pravda.Ru reported, order of the Russian President Vladimir Putin came into force on 1 July this year, which imposed additional restrictions on transit of goods from Ukraine via Russia.

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