Ukraine Announces Economic Sanctions Against Russia
Ukraine announced a series of economic sanctions against Russia that increased duty rates on a variety of imported goods and implemented an embargo on Russian cement and plywood, according to an unofficial translation of May 15 press releases from the Ukraine government.
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Ukraine’s embargo covers several varieties of wood and cement from Russia, including “portland cement, alumina cement, slag cement, sulphate-resistant cement and similar hydraulic cements,” the notice said. The embargo also applies to “clinkers, as well as plywood, glued panels, veneered panels and similar materials of laminated wood,” it said. Ukraine said the embargo is in response to “aggressive and discriminatory actions” by Russia to stop Ukrainian goods from accessing the Russian market and “to restrict the transit of goods from the territory of Ukraine through” Russia. The embargo took effect May 15, the country said.
Ukraine said the increased duty rates, which will take effect Aug. 1, will apply to “all goods originating” from Russia except for certain “sensitive imports,” such as coal, gasoline, petroleum and pharmaceuticals. Revenue from the duties will be placed into a “special fund” for the state budget to “finance import substitution measures,” the notice said.