Ukraine to ban imports of Russian oil products
(VOVworld) - Prime Minister Arseny Yatsenyuk announced Wednesday that Ukraine plans to ban imports of Russian oil products. The announcement is the latest move in an ongoing trade war between the two countries following Russia's annexation of Crimea from Ukraine in 2014. Yatsenyuk said he will also propose to the parliament a draft law on removing import duties on second-hand cars except for those from Russia.
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| A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia. (Photo: Reuters) |
Kiev’s ban on Russian oil products, once approved, will force Ukraine to find a new oil provider. Ukraine has been heavily dependent on Russian oil.
The US Energy Information Administration has reported that in 2014 Ukraine consumed 260,000 barrels of oil per day while producing just 66,000.