"In response to actions by the Russian Federation, the Ministry of Economic Development and Trade, together with central executive bodies, has developed proposals… to ban the import of a number of products from the Russian Federation," the statement reads.
The embargo may include vodka, beer, chocolate, meet, fish, cigarettes, as well as dog and cat food and a number of other products.
Moreover, the ministry said it had proposed to suspend free trade with Russia in the framework of the CIS Free Trade Agreement starting January 2, 2016.
"In response to Russia's actions, the Ministry of Economic Development and Trade in cooperation with central executive bodies has developed proposals to introduce, starting January 2, 2016, customs duties for goods imported from Russia," the ministry said in a statement.
Earlier in December, Russian President Vladimir Putin signed a decree suspending Russia’s implementation of the Commonwealth of Independent States free trade deal with Ukraine effective January 1, 2016.
The upper house of the Russian parliament, the Federation Council, approved the respective law on December 26.
