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Ukraine May Lose $7Bln From Possible Sanctions Against Russia - Yatsenyuk

RIA Novosti

16:34 08/08/2014

MOSCOW, August 8 (RIA Novosti) – Ukrainian Prime Minister Arseniy Yatsenyuk said Friday Ukraine could stand $7 billion loss a year as a result of imposing sanctions against Russia.

"According to the worst case scenario for Ukraine, over the first year losses not just because of sanctions … will be $7 billion," Yatsenyuk said.

He said that is why Ukraine needs European markets and aid from western countries.

"As for the Russia's losses, we will separately conduct respective calculations after imposing sanctions of all types and I will announce [the estimates] after the National Security and Defense Council," Ukraine's prime minister added.

According to Yatsenyuk, Kiev government prepared a list of 172 individuals and 65 legal entities from Russia and other states who are subject to 26 various types of sanctions. Ukraine could stop gas transit from Russia, the prime minister said.

The list was handed over to Ukraine's National Security and Defense Council for consideration.

The United States, the European Union and some other countries has already imposed several rounds of sanctions against Russia accusing Moscow of supporting eastern Ukraine independence supporters. Russia has repeatedly denied it was never involved into the conflict.

On Wednesday, Russian President Putin introduced counter-measures against some countries that imposed sanctions on Russia. The measures banned for one year imports of agricultural and food products from Australia, Canada, The United States, the European Union and Norway.

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