Duties and embargo: Ukraine imposed mirror sanctions against Russia

The Cabinet of Ministers adopted two resolutions on the introduction of special duties and an embargo on Russian imports.

Фото: Depositphotos

Ukraine imposed mirror sanctions in response to Russia's recent economic restrictions. The decision was made today at a government meeting, writes Liga.net.

The Cabinet of Ministers expanded the list of goods prohibited from being imported into Ukraine from Russia.

According to the press service of the Ministry of Economic Development, now Portland cement, alumina cement, slag cement, cement and similar hydraulic cements, unpainted or painted, finished or in the form of clinker, as well as plywood, panels veneered and similar laminated materials are prohibited to enter Ukraine. wood

According to the Ministry of Economic Development and Trade, imports of cement products from Russia to Ukraine on the basis of 2018 for the year amounted to almost $ 17 million. The volume of imports of plywood from Russia in 2018 amounted to about $ 19,7 million.

The government also adopted a decision initiated by the Ministry of Economic Development and Trade to apply a special duty on all goods originating from the Russian Federation. The exceptions are sensitive imports, such as coal, coke, gasoline, liquefied gas, and pharmaceuticals.

From 1 August 2019, when goods imported from the Russian Federation are imported into the customs territory of Ukraine, regardless of other types of duty, a special duty is introduced as a percentage of the customs value of goods at certain rates.

The paid special duty will be accumulated in a special fund of the state budget and used to finance import substitution measures.

Фото: Depositphotos

Opening the meeting of the Cabinet of Ministers, Prime Minister Vladimir Groysman noted that Russia uses economic instruments not as a civilized country, but as a “country of savages.” After blocking the work of sea ports, he recalled, “today they came up with new solutions to introduce certain economic sanctions against Ukraine.”

“Today we will decide to introduce mirror sanctions against Russia; we will introduce an embargo on those goods that are manufactured in Ukraine or that can be replaced,” he said.

Also, Groysman noted, special duties on Russian goods will be introduced in order to give an answer to the aggressor, who wants to harm Ukraine economically.

In this regard, he added, Ukraine is reorienting its economy towards civilized markets, and already 43% of exports are to EU countries.

According to Deputy Prime Minister Stepan Kubiv, with this decision it is planned to stop the flight of capital to Russia and increase the workload of the production capacities of Ukrainian commodity producers. “This means we are talking about supporting existing jobs and creating new ones,” he said.

Another decree introduces a special duty for import into the territory of Ukraine of goods produced by the Russian Federation.

“We are establishing, from August 1, 2019, when importing goods from the Russian Federation into the customs territory of the country, regardless of other types of duties, the introduction of a special duty as a percentage of the customs value of goods,” he said.

Let us recall that on April 18, Russian Prime Minister Dmitry Medvedev said that from June 1, Russia banned the export of petroleum products and coal to Ukraine. According to the Russian prime minister, the decision was made in response “to the unfriendly actions of Ukraine.”

It should be noted that the trade war is not only between Russia and Ukraine, but also between the United States and China. So, 10 May Trump ordered to impose import duties on Chinese goods in the United States of another approximately $ 300 billion

In July, 2018, Trump said that, if necessary, he is ready to impose duties on almost all imports from China for a total of about $ 500 billion.

The Ministry of Finance of China decided to introduce from June 1 increase duties on goods totaling $ 60 billion in response to US actions. Donald Trump advised China to refrain from "revenge", as "it will only get worse."

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