“Economic shock” – Poroshenko admitted the loss of $15 billion from the “imperial embargo” of Russia

Russia's closure of its markets after Ukraine's decision to sign an association agreement with the EU turned into an “economic shock” for the Ukrainian side. President of Ukraine Petro Poroshenko stated this from the rostrum of the Verkhovna Rada.

According to him, Ukraine lost at least $15 billion due to the Russian embargo.

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“It’s probably good from a strategic point of view that our dependence on the Russian market, where political blackmail and imperial pressure, rather than the laws of economics, rules the roost has been reduced in such a dramatic way.

But we must understand that Russia’s aggressive closure of its market was an economic shock for Ukraine and, according to estimates, cost us at least 15 billion dollars. We have lost tens, if not hundreds of thousands of jobs. And this economic aggression is one of the main reasons for the rapid decline in living standards,” Poroshenko said.