Kyiv considers targeted sanctions against Russian companies

Ukraine is contemplating the possibility of imposing targeted sanctions against certain Russian companies and not categories of goods, said Roman Kachur, Ukraine’s Deputy Minister of Economic Development and Trade.

«Under the foreign trade law, the Ministry of Economic Development and Trade may introduce sanctions against certain companies, thus either fully prohibiting their economic activity in Ukraine or switching to the individual licensing regime. It is with this aim that we publicized this list,» he said at a briefing on Tuesday.

The ministry conducted its own detailed analysis of every company and sector involved in trade with Russia, Kachur said.

«We must understand that among these companies there are transnational ones with global equity in which our partners have interests. We will have a look and act in as much a targeted way as possible so as not to create problems for Ukrainian companies,» he said.

The introduction of sanctions must be efficient and targeted «in order to be really effective and not harmful for our own companies which exist on the market,» he said.

It was reported that in response to the Russian government’s decision to impose duties on certain Ukrainian goods the Ukrainian Ministry of Economic Development and Trade unveiled its own list of imported Russian goods which could be withdrawn from free trade. The proposed changes affect 36 groups of goods, including foodstuffs, household articles, and railway locomotives. The ministry told Interfax that the restrictions will not affect critical imports such as oil and natural gas.