16 December 2015, 18:11 GMT
MOSCOW (Sputnik) – Putin signed a decree on Wednesday suspending Russia’s implementation of the Commonwealth of Independent States free trade deal with Ukraine effective January 1, 2016. The Deep and Comprehensive Free Trade Area, an economic component of Ukraine’s Association Agreement with the European Union, comes into effect on January 1.
"This decision is motivated by the fact that a trade and economic section of the Association Agreement between Ukraine and the EU takes effect on that date. No legally binding agreements have unfortunately been reached with Russia, so these measures are designed to protect Russia’s economic interests," Peskov told reporters.
Russian First Deputy Economic Development Minister Alexei Likhachev told RIA Novosti Moscow would introduce most-favoured nation treatment customs duties with Ukraine.
Earlier in the day, Russian Minister of Economic Development Alexei Ulyukaev said the "door has not been completely slammed" on the European Union’s trilateral free trade negotiations with Ukraine.
