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Ukraine Officially Terminates Trade With Russia

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Ukrainian authorities have officially banned all imports from Russia, one of its key pre-war trading partners with annual imports worth about six billion dollars, and called on other countries to follow suit and impose tougher economic sanctions on Moscow.

“Today, we have officially announced the complete cessation of trade in goods with the aggressor state”, wrote Economy Minister Yulia Svyrydenko on her Facebook page, Reuters reports.

From now on, no products from the Russian Federation will be imported onto the territory of Ukraine, she said.

Since the beginning of the Russian invasion of Ukraine on 24 February, exchange of goods and services between the two neighbouring countries has been practically non-existant, but this move makes the abolition of imports official.

“The enemy state will not receive these funds, which will reduce its ability to finance its war”, said Svyrydenko.

Ukraine’s move could serve as an example to Ukraine’s Western partners and stimulate them to tighten sanctions on Russia, including enforcing an energy embargo and isolating all Russian banks, she stressed.

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