Ukraine’s economy to collapse without Russia

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KIEV, Ukraine – Kiev must stop being a “beggar” who humbles himself to the West and normalize relations with Moscow, otherwise its economy will collapse, opines former minister of the country.

When it comes to Russian-Ukrainian relations, there is a threat of an economic collapse for Ukraine, says former Minister of Infrastructure Yegeny Chervonenko.

“There is an objective reality – January is almost over, and together with it, European quotas end. The figures are indomitable,” he told TV NewsOne .

In his view, it would be better for Ukraine to conduct an independent policy and stop acting as a “beggar” who humbles himself to the West. Instead, Kiev should establish a dialogue with Moscow.

At the same time, the former minister recalled that Russia has not taken any action against the factories of the president of Ukraine, Pyotr Poroshenko, nor against three million Ukrainians who are working in Russian territory, since “Ukraine does not give opportunities.”

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Economic situation in Ukraine

Moscow and Kiev have negotiated trade restrictions since September 2015. Russia has repeatedly said it will suspend the bans in response to similar actions by Ukraine.

At the end of December last year, the Russian government expanded the list of banned Ukrainian products for import. Both food products and industrial products have entered the list. The Russian measure was taken in response to the Kiev sanctions.

After the Euromaidan (nationalist demonstrations) in 2014, Ukraine’s economy is declining. Kiev is attempting to carry out economic reforms by borrowing from the International Monetary Fund (IMF), which affects the well-being of citizens: taxes are rising while wages and pensions remain low. It also increased the country’s external debt.

Ukraine, despite being economically dependent on Russia, chooses at every moment to prioritize hostile relations to serve Western imperialist and corporate interests. For this reason, Ukraine has one of the worse economies in the western world despite being highly industrialized.

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