Great Vladimir Putin Speech About Ukraine 2014 - Its all about Oil Gas a...

Great Vladimir Putin Speech About Ukraine 2014 - Its all about Oil and Gas - Speech at the meeting of the Customs Union Heads of State with President of Ukraine and European Union representatives PRESIDENT OF RUSSIA VLADIMIR PUTIN: Colleagues, First, I would like to thank Minsk and Belarus for the opportunity to meet here. The format we are using here – the Customs Union-Ukraine-EU – gives us a good opportunity to discuss issues pertaining to the impact of signing by Ukraine of the EU Association Agreement within the context of its cooperation with the Customs Union states.



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Russia has always respected the sovereign choice of any nation to organise its political life and make all sorts of unions, both military and economic, and we will continue to do so. However, we hope that this will not be detrimental to other participants in international communication, and not at our cost. As you may know, Ukraine is deeply integrated into the CIS economic space. Alongside Russia, Belarus and Kazakhstan, it is actually an inseparable part of the largest economic complex in the world, which took ages, rather than years or decades, to create – and this is no exaggeration.



Our countries’ companies have developed close ties in all the basic industries: in the fuel and energy sector, which includes nuclear power, in chemical production, in aviation and machine building, space, metallurgy and metals processing, in construction and agriculture. We have developed unique production chains and created technological alliances. Russian capital represents about 32 percent of the Ukrainian banking system.



The Customs Union states are Ukraine’s key foreign trade partners. In 2013, mutual trade turnover came up to $50 billion. This is comparable to what is going on the western track. In the first six months of 2014, our trade turnover reached $22.7 billion. The Customs Union accounts for 30 percent of Ukraine’s exports. We have to openly state that the Russian market takes up most of this volume.



We have developed a good legal basis for our cooperation. In 2011, a free trade zone agreement was signed within the CIS framework. I would like to stress here that Ukraine took a very active stance in this respect. It actually insisted on signing this agreement.



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