http://rt.com/business/168824-ukraine-eu-free-trade/Ukraine as well as Moldova and Georgia have signed free trade deals with the EU, stepping away from Russia even though big economic risks lie ahead.
The signing of the agreement comes after 8 months of violent unrest in Ukraine, which broke out in Kiev and spread across the country in November after then-President Viktor Yanukovich decided to delay the singing of the trade agreement.
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No longer Russia’s preferential trade partner, Ukraine stands to lose $500 billion as it cuts ties with Russia. However, the new government filled with hope about the prospect of duty-free trade with Europe’s $17 trillion economy.
Yippie! Life will immediately get better in Ukraine and Europe will see an influx of high-demand Ukrainian goods. Or maybe, not.
Everyone, prepare to eat Poroshenko's chocolates!
Europeans should also prepare for some austerity to pay for Ukraine.
In 2013, EU exports to Ukraine were worth $33 billion (23.9 billion euro), dominated by industrial equipment, chemicals, and manufactured goods.
Ukraine exported 13.8 billion euro worth of goods to the EU, mostly materials like iron, steel, and minerals. Agricultural and food products are also substantial exports.
Iron, steel, minerals are in Novorossia.
Agricultural and food products were grown in the fertile black earth of Novorossia, now "fertilised" by phosphorus bombs.
So, EU will not be importing anything, but Ukraine can expect to be flushed with excess goods from Europe.
Oh, and this:
“It is their sovereign right, but the Russian Federation will have to take measures in case it negatively effects the local market,”Dmitry Peskov, Putin’s spokesperson said, commenting on the agreements signed between the EU and Ukraine, Georgia and Moldova.