Conflict between Russia and Ukraine creates mutual problems for the industry

The deterioration of the Russian-Ukrainian relations leads to disadvantages for the economy and industry in both countries. Especially for technologically advanced products Russian and Ukrainian enterprises share a common value chain. This includes aerospace technology, manufacturing of engines and turbines, equipment for energy industry and the construction of locomotives.

The Russian Minister of Industry and Trade, Denis Manturov, thinks that Ukrainian deliveries to Russia with a value of up to $ 15 billion at risk in 2014.This includes food products which, however, can be replaced without problems through deliveries from Belarus and Kazakhstan.

Ukraine was in 2013 with a trade turnover of 39.6 billion USD Russia’s fifth largest trading partner – after China (88.8 billion USD), the Netherlands (76 billion USD), Germany (75 billion USD) and Italy (53.9 billion USD) according to the Russian statistics service Rosstat .

According to the Ukrainian statistics service Derchstat Russia is Ukraine’s largest trading partner with a volume of 38.2 billion USD. Ukraine’s trade deficit with Russia reached 8.2 billion USD in 2013.

Source: russland.RU – Internetzeitung