Specialists given one month to resolve questions on EU-Ukraine association agreement

18:31, 07.09.2015 1 min read

Russia, the EU and Ukraine have given their specialists one month to draw up a document resolving questions surrounding enactment of the Ukraine-EU association agreement, whose economic provisions take effect on January 1, 2016, Russian Economic Development Minister Alexei Ulyukayev told journalists following trilateral talks at the ministerial level in Brussels.

The next ministerial meeting will take effect at the beginning of November.

Ulyukayev acknowledged that the probability of reaching a final agreement is not high. If it isn't, Russia will impose a food product embargo against Ukraine beginning January 1, 2016 analogous to the one in effect for other countries, and most favored nation status, that is, in essence, an ordinary trade regime. The damage to the Russian economy from those changes would not be so substantial, totaling up to 100 billion rubles, according to various estimates.