Ukrainian business will lose US $5 bn until the end of the current year due to the reduction of turnover with Russia, Minister of Finance Oleksandr Shlapak said at the First Global Investment Conference.

«We have already lost US $3.5 bn from the decline in turnover with Russia this year. And we will lose another US $5 bn until the end of the year,» said the minister.

The agricultural and engineering goods are the main groups of commodities of the Ukrainian export to Russia.

Shlapak believes that Russia needs the Ukrainian goods.

As a reminder, Premier Arseniy Yatsenyuk evaluates the possible reduction of turnover with Russia due to the imposition of the duties on the Ukrainian goods in the amount of UAH 7 bn (US $540 mn).