AKIPRESS.COM - Russia is concerned by the extreme situation unfolding in Ukraine. The Ukrainian economy is going through an extremely difficult crisis. There may be negative consequences for the Customs Union market as well, President of the Russian Federation Vladimir Putin said on March 5 at the meeting with President of Belarus Alexander Lukashenko and President of Kazakhstan Nursultan Nazarbayev in the framework of the Eurasian Supreme Economic Council.

“Ukraine is the key economic partner for the Customs Union. We are united by close industrial and trade ties. Ukraine belongs to the CIS free trade zone,” President Putin noticed.

He warned the Ukrainian crisis requires the CIS countries to undertake measures to protect their producers and exporters.

Besides, new modes of further cooperation with Ukraine should be worked out. “We need to develop the framework for further cooperation with Ukraine. We certainly need to do everything to help our partners out of the difficult situation in which they find themselves today,” the President added.

Ukraine needs some $35 billion to improve its economy, according to the country's Finance Ministry.

In May, the Eurasian Supreme Economic Council plans to sign a treaty on the creation of the Eurasian Economic Union. Armenia and Kyrgyzstan are looking forward to join the alliance.