Ukraine and Russia to terminate trade relations completely

Ukrainian Prime Yatsenyuk believes that trade between Ukraine and Russia will stop completely soon, in a bilateral format. He explained his forecast with worsening relations between the two countries, as well as the EU sanctions against Moscow. According to Yatsenyuk, the decline in exports will make up $5 billion, RIA Novosti reports.

"My forecast is as follows: one should be ready that we will have almost complete restriction of trade with Russia bilaterally. When Western countries impose sanctions on Russia, close markets and suffer losses, we just sit here and think that it will all pass simply. This is wrong and does not meet the standards of international law, nor does it correspond to the main point: the notion of our dignity. I understand all economic consequences, and you understand them too. But I also understand that Russia is not the only market in the world, where Ukrainian products can be supplied. Therefore, the government is ready to do everything to ensure that we have diversify markets," Yatsenyuk said.

"According to our preliminary estimates, the export of Ukrainian products will drop by about $5 billion in the event the Russian market is completely closed," he added.