Home > News > World
Wednesday July 30, 2014 MYT 7:45:02 PM
Wednesday July 30, 2014 MYT 7:46:41 PM
MOSCOW (Reuters) - Russia's Economy Ministry has drafted a regulation introducing import duties on Ukrainian goods, a draft document showed, in an apparent response to Kiev's trade deal with the European Union. Russia said last month it was likely to respond with trade barriers after Kiev signed an association agreement with the EU which provides for free trade between the two.
According to the text of the draft regulation, published on a government website, a wide range of Ukrainian goods - from beer to furniture and cars - will be subject to duties that Russia's Customs Union applies to "most favoured nations", ending a more favourable tariff regime.
Moscow fears that Ukraine may re-export EU products into Russia, avoiding duties that Russia imposes to protect its own output. It is also concerned that an influx of EU products into Ukraine will lead to Ukraine dumping some of its production in Russia.
The new regulation has yet to be reviewed by other government bodies and pass a legal expertise before it is submitted to the government. It does not require voting in parliament and will come into force one month after its official publication.
(Reporting by Maria Kiselyova, editing by Elizabeth Piper)
Doubts cloud sense of relief as new Afghan government takes shape
Climate protesters to risk arrest during Wall Street sit-in
Romania's leftist government survives no confidence vote
Sierra Leone records 130 new Ebola cases during three-day lockdown
Ukrainians to pull back big guns from front line with separatists
Turkey struggles with spillover as Syrian Kurds battle Islamic State
Panda-ring to changing tastes
CSKA Moscow crack down on fans after Champions League clashes
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)