: How will Brexit affect Ukraine's future? Experts sharing thoughts
Politics18:31 Jun. 30, 2016

How will Brexit affect Ukraine's future? Experts sharing thoughts

United Kingdom is to guarantee Ukraine's security in terms of Budapest memorandum

127 billion US dollars is a price of Brexit for the richest people on the world. This is the approximate sum 400 tycoons including Microsoft founder Bill Gates lost at stock markets on Friday, as soon as the referendum results were officially declared. George Soros in turn gained a good deal on British pound weakening, since he has been providently obtaining gold bars and shares of gold-mining companies.

While the financial geniuses compete for large personal incomes, world stock markets tremble in fear. British pound of sterling's has lost more than 10% of its value, having fallen to the 1985 indices. As a result, European currency rate is 3,5% cheaper in comparison to US dollar.

All these boring financial activities could have been ignored, if the E.U. was not the main trading partner of Ukraine. However, since 34% of Ukrainian export goods head to the West, Ukrainian specialists express big worries concerning the issue.

Oleh Ustenko, Executive Director of Bleyzer Foundation in Ukraine: "If European Union faces currency devaluation at approximately 10% level, Ukrainian GDP may lose no less than 2%. In other words, it is a total economic catastrophe." 

Watch also Ukraine to face consequences after UK votes for Brexit

Apart from economic problems, Brexit may postpone the adoption of visa-free regime for Ukraine. One of the reasons why London initiated the Brexit referendum was migrant's crisis. In fear of illegal refugees the EU may simply delay visa liberalization.

Iryna Heraschenko, Ukraine's First Deputy Chairman: "Brexit will not be able to postpone the visa liberalization for Ukraine. But it can obviously affect the terms of adopting the visa-free regime. Now the European Parliament will supposedly concentrate mainly on the inner problems connected to UK's further membership. Therefore, Kyiv is to anticipate any decisions on visa-free issues no sooner than September."

In spite of the aforementioned perspectives the experts are mostly concerned with the political outcomes Brexit may lead to. They stress Ukraine may lose the international support in view of its war with Russia, since without the United Kingdom Europe may not succeed in further sanctions' pressing.

Watch also "Right-wingers in Sweden, Netherlands, France will want to follow Brexit, but won't succeed"

Though Brexit seems to be inevitable, the real procedure may last no less than two years. Great Britain being one of the strictest critics of Kremlin aggression in Ukraine confirmed it will remain Ukraine's strategic partner in terms of Budapest peace memorandum.

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