23 October 2016

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How will Brexit affect Ukraine's future? Experts sharing thoughts

As the EU remains the main trading partner of Ukraine with 34% of Ukrainian export goods heading to the West, the Ukrainian experts express big worries concerning the issue of Brexit’s economic impact on global, including the European, economy, according to Ukraine Today.

Oleh Ustenko, Executive Director of Bleyzer Foundation in Ukraine says: "If the European Union faces currency devaluation at approximately 10% level, Ukrainian GDP may lose no less than 2%. In other words, it is a total economic catastrophe," Ukraine Today reports.

Apart from economic problems, Brexit may postpone the adoption of visa-free regime for Ukraine. Iryna Gerashchenko, Ukraine's First Deputy Chairman, says Brexit “will not be able to postpone the visa liberalization for Ukraine. But it can obviously affect the terms of adopting the visa-free regime. Now the European Parliament will supposedly concentrate mainly on the inner problems connected to UK's further membership. Therefore, Kyiv is to anticipate any decisions on visa-free issues no sooner than September."

The experts are mostly concerned with the political outcomes Brexit may lead to. They stress Ukraine may lose the international support in view of its war with Russia, since without the United Kingdom Europe may not succeed in further sanctions' pressing.

Is there life after BrexitHowever, Great Britain being one of the strictest critics of Kremlin aggression in Ukraine confirmed it will remain Ukraine's strategic partner in terms of Budapest peace memorandum.

See’s video section for more of the latest news from Ukraine in video from Ukraine Today, Ukraine’s 24-hour English-language news channel.

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