Ukraine’s dependence on the market for exports to Russia has been declining drastically since 2011 (Figure 1). Until then Ukraine’s exports to Russia, the EU and the rest of the world had been following similar paths. Since then exports to Russia got onto its own downward trajectory due to Russian aggression against Ukraine. New sanctions by Russia towards imports for Ukraine introduced in late 2018 and 2019 are now set to reduce these export flows even further.
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