Ukraine to impose a 13 percent increase on import duties for all products

The Ukrainian parliament has decided to impose a 13 percent temporary increase on the import duties for all imported products, excepting critical ones, the list of which is currently being defined by the cabinet of ministers of Ukraine. The decision was taken in order to improve the country’s balance of payments in the context of the global financial crisis. Upon approval by the president of Ukraine, the law will become effective ten days after its official publication.