The Free Trade Area between Ukraine and the European Union came into effect on Friday, January 1st. The accord is part of a broader EU Association Agreement that was signed in 2014, but the parties took a one-year pause on Russia's request for consultations with the country, which failed.
The agreement eliminates 97% of tariffs on Ukrainian goods and reduces the average tariff on Ukrainian exports from 7.6% to 0.5%, according to Ukraine's Ministry of Economic Development and Trade.
The free …
The Ukrainian Army and the pro-Russian separatists in Eastern Ukraine have accused each other of violating the "Christmas Truce" on January 1st.
The truce came into force on December 22nd and was mutually agreed upon by the opposing forces. In the last few days, according to the Ukrainian command, the Ukrainian Army’s position was shelled 22 times with mortars and grenade launchers. Government troops have suffered no casualties yet.
Separatists reported that one person was killed in their …
It appears as though Moscow will end a contract with Kiev that ensures the delivery of electricity to the Crimea. Having illegally annexed the peninsula in early 2014, Russia insists that Ukraine remove any language from the contact that stipulates that the Crimea is part of Ukrainian territory. Kiev is determined not to give in.
Kremlin Press Secretary Dmitry Peskov asserted that if Ukraine does not agree to change the wording, Russia is most likely to abandon the contract. "It can be assumed …
The Russian Ministry of Finance has declared that Kiev is in a “state of default”, and that Moscow is taking legal action against Ukraine. The $3 billion Eurobond debt owed to Russia was loaned during the reign of former president Viktor Yanukovich in 2013 under the stipulation that Ukraine forgo any steps towards European integration, namely the ratification of the Ukraine–European Union Association Agreement.
Russian authorities have contacted the Law Debenture Corporation and initiated the …
During his annual New Year’s address, Ukrainian President Petro Poroshenko acknowledged the country’s accomplishments in 2015, saying that Ukrainians have become "not only older, but also wiser and stronger."
While Poroshenko recognized the sacrifices of Ukrainian soldiers who are “not at the festive table, but in the cold winter trench… those who are now standing with guns, not wine glasses”, his address highlighted the path that Ukraine is taking towards integration with Europe.
“It is …