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Russia, Ukraine engage in trade war

4 years ago14 views



As political tensions between Russia and Ukraine are rising, the two countries are engaging in what could be called a trade war.
Moscow has announced it is banning imports of Ukrainian diary products, including several well-known brands of cheese. Moscow cites standards violations. However, some experts in Russia think this is not unusual. The move comes after Ukraine took similar measures and banned imports and sales of Russian chocolates, cans, cheese and fish. The reason for this was the lack of labeling in Ukrainian language. The quality of the Russian products is apparently okay but they are being removed from Ukrainian shelves. This is not the first time Moscow and Kiev engage in such trade wars. In July 2013, Russian consumer watchdog banned supplies of Ukrainian confectioneries. And in February 2012, Moscow introduced a ban on Ukrainian cheese which was eventually lifted. Russia remains the main trading partner of Ukraine. Last year goods exchange between Moscow and Kiev was $45 billion. About a third of goods and services are imported to Ukraine from Russia every year. Despite rising political tensions between the two countries, their economies are dependent on each other.