Economy 2022-06-15T08:32:44+03:00
Ukrainian news
Ukraine Commences WTO Procedures Against Russia's Transit Restrictions

Ukraine Commences WTO Procedures Against Russia's Transit Restrictions

Ukraine, WTO, transit, #Russia, economics, exports, goods

Ukraine has commenced the procedures within the World Trade Organization (WTO) to challenge the transit restrictions imposed by Russia in 2016.

The Ministry of Economic Development and Trade of Ukraine announced this in a statement, Ukrainian News Agency reports.

The statement reads that exports of Ukrainian goods to the markets of the Central Asia and the Caucuses have dropped by 35.1% in the first half of 2016 (including by 45.5% to Kazakhstan) as a result of restrictions on the transit of Ukrainian goods to third countries imposed by Russia in January 2016.

The Ministry of Economic Development and Trade estimates the losses of exports of goods to Kazakhstan (annual) and Kirgizstan (in the second half of the year) at USD 0.4 billion, which forms additional losses of the GDP of 0.3%.

"Ukraine has repeatedly called on the Russian Federation to immediately cancel unfounded transit restrictions and restore non-discriminating, free regime of transit for all members of the World Trade Organization," the press service quoted Deputy Minister Natalia Nikolska as saying.

Ukraine's position regarding the restrictions imposed by Russia on the transit was articulated at the general council of the WTO on February 24 and July 27, 2016.

The position of Ukraine ha been supported by a number of countries, including Canada, the United States, the European Union, Japan, Australia, Switzerland, Korea, and Turkey.

As Ukrainian News earlier reported, Russian presidential decree No. 319 dated July 1, which amended the Russian presidential decree No. 1 of January 1, 2016, entitled "On Measures to Protect the Economic Security and National Interests of the Russian Federation during International Transit of Goods from Ukraine to the Republic of Kazakhstan through the Territory of the Russian Federation," was made public on July 3, 2016.

This decree introduced additional restrictions on transit of goods originating in Ukraine through the territory of Russia.

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