X Close


Friday, 21 February 2014 | MYT 6:05 PM

Ukraine crisis will hit Polish exporters - deputy PM

KRAKOW, Poland (Reuters) - The crisis in Ukraine will hit Polish exporters because of the falling hryvnia currency and problems with trading partners, Poland's Deputy Prime Minister Janusz Piechocinski said on Friday.

The hryvnia hit 5-year low on Thursday, but slightly strengthened Friday as President Viktor Yanukovich said a deal to resolve the crisis had been reached - although European mediators have cautioned it is only a tentative accord.

"The devaluation of the hryvnia may mean the insolvency of partners who ordered goods in Poland with payments agreed in euros and dollars," Piechocinski told reporters.

"The situation in Ukraine will affect at least 15,000 Polish exporters who exported goods last year and now will have problems with the return of receivables", he added.

The crisis erupted when Yanukovich decided not to sign a wide-ranging trade and cooperation deal with the EU.

Now, after dozens of deaths in Ukraine's worst violence since the collapse of the Soviet Union in 1991, Yanukovich faces mass protests that have put armed police to flight and brought pressure from allies in Moscow to reassert his control.

(Reporting by Wojciech Zurawski; Writing by Pawel Bernat; Editing by Alison Williams)


Most Viewed

Powered by