You're reading: Poroshenko says trade war, Russian military aggression results in fall of Ukraine’s industrial potential, living standards

Russian military aggression and the trade war against Ukraine has caused great damage to the industrial potential of the country and has lowered the living standards of Ukrainians, Ukrainian President Petro Poroshenko has said.

“I know how hard it is to live for most of you… Unfortunately, mainly this is the price of war. Investment does not come to the country during the war, and 25 percent of Ukraine’s industrial potential has been stopped,” Poroshenko said during events to mark the 150th anniversary of the birth of Metropolitan of the Ukrainian Greek Catholic Church Andriy Sheptytsky in Lviv on Wednesday.

“Along with aggression in the east, Russia has launched a real trade war against us, closing its markets for 50 percent of Ukrainian exports,” Poroshenko said.

He said that the industrial capacity of Luhansk region has plunged by 86% after a year of war.

“This affects the whole economy of the country via the domino effect. The impact wave is calming down as it moves to the west, but Lviv is also touched,” Poroshenko said.

“There is no example in the world when economy grows and living standards increase when military aggression is carried out against it,” he said.