Poroshenko Signs Law Abrogating the Treaty of Friendship with Russia

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KIEV, Ukraine – The Ukrainian president, Pyotr Poroshenko, announced on Monday that the law abolishing the Treaty of Friendship, Cooperation and Partnership between Russia and Ukraine was signed and will come into effect from April 1, 2019.

The president made the announcement on his Twitter account.

In September, Poroshenko approved the decision of the National Security and Defense Council for the termination of the treaty. Kiev commented on that occasion that it was not the denunciation of the agreement but of the decision not to extend it.

Moscow described the decision of Kiev as a destructive step and lamented the break.

The Treaty of Friendship, Cooperation and Partnership between Russia and Ukraine was signed in Kiev on 31 May 1997. The 10-year document entered into force on 1 April 1999 with an automatic extension for a further 10 years if there is no objection.

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The document is essential for bilateral relations between countries and provides for a strategic partnership.

Meanwhile, the National Bank of Ukraine spent $125 million to insure the exchange rate in the country in the first 3 days after the imposition of martial law in the country in response to the incident in the Kerch Strait.

The information was disclosed by the bank’s president, Yakiv Smolii, on Sunday.

On November 26, the Ukrainian parliament supported the initiative of Ukrainian President Pyotr Poroshenko to impose martial law in 10 regions of the east of the country.

The measure was a response to the incident in the Kerch Strait where three Ukrainian ships were detained by Russia after illegally crossing Russian territorial waters.

“A certain exaltation in the first three days after the imposition of martial law was quickly replaced by the strengthening of the hryvnia [Ukrainian currency] at the end of the week. The National Bank softened the fluctuations of foreign exchange interventions. To support the exchange rate, about $125 million was spent on reservations between November 26 and 30,” Smolii told VoxUkraine.

Russian President Vladimir Putin said the Kerch Strait incident was a provocation prepared as a pretext to introduce martial law in the Ukraine. Putin also said that the provocation could be linked to Poroshenko’s low popularity and the approach of the presidential elections of 2019, whose campaign began in December.

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