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FX.co ★ Ukraine’s media suspected Russia triggered new customs war

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Forex Humor:::2014-02-04T06:31:00

Ukraine’s media suspected Russia triggered new customs war

Russia is going to launch a new customs war with Ukraine because of the resignation of Prime Minister Mykola Azarov, ZN.UA reported referring to the source in Ukraine’s government. According to the weekly magazine, Russia’s Federal Customs Service should have introduced since Wednesday the new regulations on the detailed customs inspection of the goods imported out of Ukraine. The Customs Service has not made any comments on the report in the Ukrainian mass media so far.
Meanwhile, such companies as Metinvest involved in mining and steel production and Kreativ Razliv supplying raw oil and grease have already encountered some trouble at the Russian border. Imposing restrictions on export sales could aim to put pressure on Ukraine’s big business.
However, the formal cause for a detailed check could mean the extra security procedure for the customs inspection before the Olympic Games in Sochi. Moreover, certificates of origin attached to Ukrainian commodities might bring about distrust. For the same reason, Russia had scaled down import sales before Ukraine made the EU Association agreement.
The departure of Mykola Azarov as Ukraine’s Prime Minister was announced on January 27. In the recent months, he has been the main target for criticism by opposition forces who turned the Ukrainian capital into a barricaded maze. Several opposition figures have been considered for premiership including Arseniy Yatsenyuk, a lawmaker and one of the opposition's leaders.
Trade relations between Ukraine and Russia came to the boil in summer 2013. In July, Russia’s Agency for consumer rights and health protection (Rospotrebnadzor) banned supplies of confectioneries produced by Roshen at Ukraine-based facilities. The authorities explained the embargo by too high concentration of carcinogenic substance benzopyrene in sweets. At the same time, confectionaries made at Roshen’s factory in Russia did not cause any claims by Rospotrebnadzor.

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