Kyiv urged other countries to follow its example.
“Today we officially announced the complete cessation of trade with the aggressor state,” Ukrainian Economy Minister Yulia Svyrydenko said on her Facebook page. “From now on, no products of the Russian Federation will be able to be imported into the territory of our state.”
Since the beginning of the Russian invasion of Ukraine on February 24, the exchange of goods and services between the two neighboring countries has practically stopped, but the current step gives this fact the status of a law. Previously, the volume of Russian-Ukrainian trade amounted to $ 6 billion.
“The enemy’s budget will not receive funds, which will reduce its potential for financing the war,” Svyrydenko says. “Such a step by Ukraine can serve as an example for our Western partners and encourage them to strengthen sanctions against Russia, including the introduction of an energy embargo and the isolation of all Russian banks.”
President of Ukraine Volodymyr Zelenskiy has repeatedly called on the West to boycott Russian oil products and other goods from the Russian Federation. The West has imposed numerous sanctions on Russia, which have already put Moscow in a position in which no major economy has ever found itself before.