23 March 2018

The program of the economic cooperation between Ukraine and Russia has not actually been working since 2013, and now it is terminated at the government level. The consequences of the severance of economic ties between Ukraine and Russia have already had a negative impact on the Ukrainian economy, and the situation will only worsen in the future. The consequences are the fall in the GDP, the closure of a huge number of enterprises in Ukraine that were oriented to the Russian market, the reduction of a large number of jobs and the outflow of the country's labour pool. Reorientation to other markets does not compensate for Ukraine's loss of the Russian market.

It will not be possible to break off trade relations completely without physically blocking the borders. That means that the market regulates itself despite the relations between the governments. A promised expansion of the Ukrainian market driven by the EU market did not take place and is not expected – on the contrary, the quotas for Ukrainian goods severely restrict us. Hence, rejection of the Russian markets, for which the world's largest corporations are competing, seems to be even more senseless.

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