Kiev: Ukrainian First Deputy Prime Minister Vitaly Yarema Friday said his country is suspending military cooperation with Russia over Moscow’s troops movements near the Ukrainian border.
“The prime minister decided to cease military cooperation with the Russian Federation,” Yarema said during a meeting.
Although the two ex-Soviet neighbours have very close links in the military-industrial complex, Kiev was forced to stop supplying defence goods to Russia as these could be used against Ukraine if military tensions arise, Xinhua reported citing Yarema.
To partially compensate for potential damages from losing the Russian market, Ukraine would seek ways to redirect the export of military-technical products to some other countries, Yarema added.
Ukraine’s military exports, including arms, radars and engines for helicopters and planes, account for over half of Russia’s military imports.
Ukrainian military analyst Sergey Zgurets estimates Kiev may lose around $600 million a year from the suspended military cooperation with Moscow.
Meanwhile, the pause will cause $2 billion worth of damage to the Russian side, which would be unable to deliver on military-technical contracts with third-party countries without the Ukraine-made components of military goods.