REUTERS
Groysman says Russia must pay a high price for its aggression against Ukraine.
Ukrainian Prime Minister Volodymyr Groysman has said his government is ready to sever a program for economic cooperation with the Russian Federation.
"The government is ready to decide on termination of the program of economic cooperation with Russia. Russia must pay a high price for the aggression," the prime minister wrote on Twitter.
Speaking on a Ukrainian TV Channel, Groysman projected that the decision might be taken next Wednesday, March 21.
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"I've given such an order. We are now drawing up a government resolution. I think we will pass it on Wednesday to sever the economic cooperation program launched in 2011," the head of government said.
According to him, Ukraine needs to reorient its economy so it is no longer pegged to Russia. "We are working to reorient our economy to end the ties Russia has constantly imposed on us, binding us as a raw material supplement to its economy. Already after the recent aggression, our industry has begun to look for other markets," Groysman stressed.
UNIAN memo. The Ukraine-Russia economic cooperation program for 2011-2020 was developed in pursuance of a May 17, 2010, decision by the then presidents of Russia and Ukraine, Dmitry Medvedev and Viktor Yanukovych.
In particular, the document determines the recovery of reputational losses after Ukraine-Russia gas transit disputes in 2006-2009 as the most important task, along with the abolition of mutual trade restrictions.
Simultaneously with military aggression against Ukraine in 2014, the Russian Federation unleashed a trade and economic war, imposing an embargo on a number of sensitive Ukrainian export-oriented staples. Ukraine introduced retaliatory measures. Since 2014, Russia's share in Ukrainian exports has shrunk to 9% from almost 30%.