Support Russia Insider - Go Ad-Free!

Former Minister of Economy: De-Industrialization of Ukraine Cannot Be Reversed

At least Ukraine can rest assured that the foreigners who take its ports, energy resources, communications, and agricultural land won't be Russians!

MORE: Ukraine

This article originally appeared at PolitNavigator. Translated by New Cold War

‘The main result of privatizations will be to transer ownership to foreigners.’

<figcaption>Viktor Suslov</figcaption>
Viktor Suslov

It makes no sense to campaign for the preservation of economic relations of Ukraine with the Commonwealth of Independent States (CIS)* markets, as the de-industrialization of the country has become irreversible nature, economist Viktor Suslov told a press conference in Kyiv recently.

“Unfortunately, the process of de-industrialization and destruction of our industry is already impossible to stop,” Suslov said.

Suslov was minister of economy of Ukraine in 1997-98. In 2013, he was appointed Ukraine’s representative to the Eurasian Economic Union. Last October, he told Ukraine’s government that a condition for stabilizing the country’s currency is to end the war in the east of the country.

“During the past year, I have worked hard for the preservation of economic ties with the CIS and Russia, for the preservation of these markets. But I now realize that nothing has happened and nothing will happen. I’m not campaigning for it anymore.

I understand that we are losing these markets and the losses are irreversible. I realize that thousands of our enterprises will be closed and, accordingly, the financial situation of the country will be much worse than it was projected for this year.”

The ex-minister of economy believes that some financial revenues for public budget can be obtained from privatization of state assets. “But the main result of such privatization, I think, will be the transition of objects mostly of infrastructure – ports, energy, transport, communications, agricultural land into the hands of foreign owners.

“One consolation for us is that, as announced by the minister of economic development, the privatization processes will keep Russians out and we’ll sell assets to other foreigners. I don’t know how this can serve as great comfort”.

* From Wikipedia: The Commonwealth of Independent States is a loose association of states coordinating in the realm of trade, finance, lawmaking, and security. There are nine member states—Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Uzbekistan. Eight of these form the CIS Free Trade Area, and five of these form the Eurasian Economic Uniona customs union and common market of over 180 million people. Six member states participate in a mutual defence alliance, the Collective Security Treaty Organization.

Support Russia Insider - Go Ad-Free!
MORE: Ukraine

Our commenting rules: You can say pretty much anything except the F word. If you are abusive, obscene, or a paid troll, we will ban you. Full statement from the Editor, Charles Bausman.

Add new comment