Kiev, Aug 18, 2016: Ukraine loss of $1 billion caused from Russian restrictions.Ukraine will lose at the least $1 billion this yr as a consequence of trade and transit restrictions imposed by Russia.

Russia’s transit ban will immediately cut back Ukraine’s export quantity to Kazakhstan and Kyrgyzstan, and reduce Ukraine’s gross home product (GDP) by zero.three per cent this yr, Ukraine’s Economic Development and Trade Deputy Minister Nataliya Mykolska stated on Wednesday.

Within the first 5 months of 2016, Ukraine’s export quantity to Russia fell by 36.2 per cent year-on-year and is predicted to plunge additional, Xinhua news agency reported as Ukraine loss of $1 billion caused from Russian restrictions.

Agriculture, metallurgy, freight and logistics trade, packaging business, pharmaceutical trade and lightweight business can even undergo losses, she added as Ukraine loss of $1 billion caused from Russian restrictions.

For the reason that begin of 2016, Moscow has taken a collection of restrictive measures towards Ukraine, together with the suspension of a Russia-Ukraine free commerce settlement in response to Kiev becoming a member of a free commerce zone of the European Union when Ukraine loss of $1 billion caused from Russian restrictions.

Photo Courtesy: www.rt.com