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Russia hits Ukraine with trade sanctions over EU deal | Russia hits Ukraine with trade sanctions over EU deal |
(about 3 hours later) | |
Russia is tightening trade sanctions on Ukraine in retaliation for Kiev's sanctions and its EU free trade deal. | Russia is tightening trade sanctions on Ukraine in retaliation for Kiev's sanctions and its EU free trade deal. |
Russia will apply new tariffs to Ukrainian exports from 1 January, when the free trade deal takes effect. | Russia will apply new tariffs to Ukrainian exports from 1 January, when the free trade deal takes effect. |
Earlier Russia announced a ban on imported Ukrainian food - also from 1 January - because Ukraine blacklisted many Russian banks, defence firms and airlines, in line with EU sanctions. | Earlier Russia announced a ban on imported Ukrainian food - also from 1 January - because Ukraine blacklisted many Russian banks, defence firms and airlines, in line with EU sanctions. |
Russia's annexation of Crimea in 2014 triggered wide-ranging EU sanctions. | Russia's annexation of Crimea in 2014 triggered wide-ranging EU sanctions. |
The EU has decided to extend the sanctions for another six months - until mid-2016 - because the Minsk peace deal, aimed at settling the eastern Ukraine conflict, will not be fulfilled as was envisaged by the end of this month. | The EU has decided to extend the sanctions for another six months - until mid-2016 - because the Minsk peace deal, aimed at settling the eastern Ukraine conflict, will not be fulfilled as was envisaged by the end of this month. |
The sanctions were ratcheted up after pro-Russian separatists seized a large swathe of eastern Ukraine and declared independence from Kiev in 2014. Russia has sent heavy weapons and troops to help them, Western leaders say - something that Moscow denies. | The sanctions were ratcheted up after pro-Russian separatists seized a large swathe of eastern Ukraine and declared independence from Kiev in 2014. Russia has sent heavy weapons and troops to help them, Western leaders say - something that Moscow denies. |
The US and some other Western countries also imposed sanctions on Russia, which retaliated by banning most imported Western food and drink. | |
Separately, the Russian government said on Monday it would take legal action over Ukraine's failure to repay a $3bn (£2bn) debt. | Separately, the Russian government said on Monday it would take legal action over Ukraine's failure to repay a $3bn (£2bn) debt. |
Ukrainian Prime Minister Arseniy Yatseniuk said Russia had refused to restructure the debt, unlike other foreign bondholders who had done so. | |
He also called the debt - incurred in December 2013 - a "political bribe" from Moscow to former President Viktor Yanukovych, who was facing mass street protests at the time. Mr Yanukovych fled to Russia in February 2014. | |
Closer EU ties | Closer EU ties |
Russia argues that the EU-Ukraine Deep and Comprehensive Free Trade Area (DCFTA) threatens to turn Ukraine into a backdoor for cheap EU exports to Russia. So it is scrapping its preferential terms for Ukrainian exporters. | Russia argues that the EU-Ukraine Deep and Comprehensive Free Trade Area (DCFTA) threatens to turn Ukraine into a backdoor for cheap EU exports to Russia. So it is scrapping its preferential terms for Ukrainian exporters. |
Russia says it has tried unsuccessfully to reach agreement on the issue "peacefully and in a mutually beneficial way". | |
"Ukraine and the EU are not prepared to sign a legally binding accord that would take account of Russia's interests," Russian Prime Minister Dmitry Medvedev said. | |
Later the European Commission blamed Russia for the failure of talks on the DCFTA. A new legally binding accord would "reopen" the DCFTA, the Commission said, but "the DCFTA cannot be amended - neither directly nor indirectly". | |
In September Ukraine's President Petro Poroshenko introduced sanctions against 388 Russian individuals and 105 firms and other organisations. | In September Ukraine's President Petro Poroshenko introduced sanctions against 388 Russian individuals and 105 firms and other organisations. |
The proportion of Ukrainian exports going to the EU jumped from below 25% in 2012 to almost 35% in the first seven months of this year, the Financial Times reports, in contrast with shrinking trade with Russia. | |
Ukraine's imports of Russian natural gas - for years a thorny issue in their relations - have also declined to a bare minimum. Ukraine's gas dependency on Russia was reduced through energy efficiency measures and diversifying sources of supply. | Ukraine's imports of Russian natural gas - for years a thorny issue in their relations - have also declined to a bare minimum. Ukraine's gas dependency on Russia was reduced through energy efficiency measures and diversifying sources of supply. |
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