By Svetlana Sytina
The Ukrainian Times
The Ambassador of Israel to Ukraine told the press that a free trade area between the two countries would be established by this year-end. Importantly, he stated that Israel did not support anti-Russian sanctions imposed by the United States and its European vassals in connection with a civil war in the Donbas region with large Russian populations because Israel and Russia have vital mutual interests.
In addition, the ambassador pointed out that Israeli authorities could not influence private companies and natural persons doing business in Crimea, which reunified with Russia after the U.S.-sponsored neo-Nazi coup in Kiev.
Readers of The Ukrainian Times know that establishing the free trade area with the European Union, Ukraine has been deprived of preferences in terms of trade with Russia. According to Alexander Okhrimenko, president of the Ukrainian Analytical Center, without the free trade area with the Russian Federation, Ukraine’s machine-building and chemical industries will suffer heavily. He forecast that such enterprises as Motor Sich (UX: MSICH), Turboatom and Aviant would go belly up this year. “YuzhMash is virtually standing idle,” Mr. Okhrimenko added.
Alexei Pushkov, member of the State Duma (Russia’s parliament), said losses of Ukraine may well amount to $30-40 billion. In particular, a cut in the export of Ukrainian goods to the Eurasian Customs Union is estimated at $15 billion.
Many analysts think that the EU needs this country as a trade appendage to the West. By modest computation, losses of the state budget will account for 10% of Ukraine’s GDP after the establishment of the so-called free trade area with the EU.
As geopolitical analyst William Engdahl once put it, the U.S. has been attempting to isolate Russia by imposing the sanctions. However, the American
evil empire and its European vassals produced the opposite effect and brought Russia closer to Israel, China and other BRICS countries.
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