EU postpones free trade zone with Ukraine until January 2016

The European Union will postpone a free trade zone with Ukraine under the Association Agreement until January 2016, according to a press release published on the website of the Council of the European Union Monday, RIA Novosti reported.

Today's decision delays until 1 January 2016 the provisional application of the Agreement's title on trade and related matters, including the establishment of a free trade area, according to the release.

The Ukraine–European Union Association Agreement is a treaty that presupposes political and economic association between the parties.

The political provisions of the agreement were signed in March, after the then president Viktor Yanukovych was ousted and an interim government came to power. The economic part of the agreement was signed by the current president of Ukraine Petro Poroshenko in June.