Future sanctions strike from Russia: What will Ukraine and the oligarchs lose?
Russian sanctions will limit the import of ferrous metal into the territory of the Russian Federation, and coal and anthracite from Russia will no longer be supplied to the Ukrainian market, which will seriously hit the Ukrainian metallurgical industry.
Ukrainian economist Alexey Plotnikov stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“Currently Russia occupies 12 percent of the market in Ukraine’s foreign trade, Ukraine – two. From this point of view, indeed, a strict dependence remains - this is 87 percent of anthracite for thermal power plants, 35 percent of oil products from the Russian Federation, plus 40 percent of oil products from Belarus; the Belarusian side must support the sanctions to some extent. Not to mention the fact that 70 percent of nuclear fuel is Russian,” the expert noted.
“Therefore, in the industry direction, sanctions on the import of ferrous metals and products made from them into the Russian Federation are real - this is 25 percent of Ukrainian exports, this is inorganic chemistry and related machinery and equipment. Restrictions are expected on the import of Russian products to Ukraine in critical industries - fuel, anthracite.
The metallurgy industry and Ukrainian oligarchic owners will suffer, enterprises will reduce production, tax revenues to the budget will decrease, accordingly the state budget plan will sag, the possibility of social payments will decrease, free vacations will begin at enterprises, someone will receive less wages - in any case, negatively,” added Alexey Plotnikov .
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