Ukraine imposes economic bans on separatist areas

  • Liis Einstein
  • 17.3.2017 13:17

Ukraine President Petro Poroshenko called a meeting of the country's Security and Defence Council on 15 March to implement a ban of cargo traffic on separatist territories in Eastern Ukraine.

Ukraine authorities are planning to cut all railway and road connections with separatist-held areas until they give back the control of Ukraine enterprises in the region. Since March separatists have taken control over businesses in Eastern Ukraine in response to rail blockade by Ukrainian nationalists. Ukraine will also enforce sanctions on Russian banks subsidiaries. The banks have already been banned from increasing their assets and deposits, the new restrictions will forbid the banks from taking money out of Ukraine. According to the government, the cargo ban will cause additional economic losses, whereas the rail blockade has already estimated monthly economic loss around of 150 million dollars. The German government has expressed concerns about recent developments in Eastern Ukraine and calls Ukraine and Russia to follow Minsk peace agreement.

About author: Liis Einstein

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