The President of Russian Vladimir Putin signed a decree suspending from as of January 1st, 2016 the agreement on free trade zone (FTZ) with regard to Ukraine. This was reported on the official web-portal of legal information.
Decree №628 as of December 16, 2015 was signed by the President of Russia "due to exceptional circumstances affecting the interests and economic security of the Russian Federation and require immediate measures".
"In accordance with paragraph 4 of article 37 of the Federal Law as of July 15th, 1995 No. 101-FZ "On international treaties of the Russian Federation" to suspend as of January 1st, 2016 the agreement on free trade zone, signed in St. Petersburg on October 18th, 2011 regarding Ukraine", - stated the decree.
The Ministry of Foreign Affairs of the Russian Federation is requested to notify Ukraine about the suspension of the contract.
As previously reported, the Economic Association of Ukraine with the EU comes into force on January 1st, 2016.