KIEV, Jan. 4 – The unilateral revocation of the free trade area with Ukraine by Russia and partial food embargo would result in the reduction of Ukrainian export to the country by slightly over $1 billion or around 1% of GDP, Mykola Ryzhenkov of the Institute for Economic Research and Policy Consulting told Interfax-Ukraine.

"Trade barriers that Russia could impose in response to the application of the deep and comprehensive free trade area (DCFTA) with the EU would mildly influence on Ukrainian exports. It would be smaller than it could have been several years ago," the expert said.