Kiev, January 1 Ukraine’s free-trade deal with the EU came into effect today, coinciding with the start of Moscow’s food embargo against Kiev that will force the impoverished former Soviet republic to revisit its economic model. The free-trade accord is part of the broader EU Association Agreement — signed at the end of June 2014 — and stands at the heart of the drastic deterioration of Ukraine’s relations with Russia, furious at seeing its Soviet-era satellite turn to the west. Ukraine, whose market has been traditionally oriented toward Russia, will now have to turn itself toward the European market and …read more
Source: The Himalayan Times
